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Economy

Gasoline Prices Burn Up Greeks Budgets, Among EU’s Highest

ATHENS – It comes as no surprise to Greeks reluctant to drive too far but the price of gasoline in the country is among the highest in the European Union in relation to their salaries, racking up big annual costs.

So much so that the New Democracy government has provided fuel subsidies to offset a small portion of the cost, which averages 2.40 euros ($2.41) per liter, which works out to about $9.12 per gallon, compared to $3.91 in the US.

Of all the European motoring nations, the Greeks spend more of their annual income on fuel for their cars than anyone else, said Wards Auto in a report that cited the price comparison website Confused.com.

That said the average Greek driver is paying 13.13 percent of an annual salary to gas up and spends some 1,153,26 euros ($1,159.22) annually to fuel their vehicles, saved somewhat by smaller cars with better mileage than bigger vehicles.

The research for the third quarter of 2022 was calculated by analyzing official data on each country’s average yearly income in comparison to their average fuel consumption and fuel prices per liter including gasoline and diesel.

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