STA, 15 March 2022 - While the government decided to cap the prices of the two best-selling petrols, regular and diesel, for a month starting today, for heating oil only a temporary regulation of margins had been introduced, so the price went up by more than 24% today.
The price of heating oil went up from EUR 1.018 a litre to EUR 1.264, which is a 24.2% rise.
In the face of rising energy prices, the government introduced a temporary regulation of margins for distributors of heating oil at the start of the heating season in November 2021. Initially it was introduced for three months, and then extended by another three months in January.
Since February, excise duties on electricity and fuels, including heating oil, have been reduced to the lowest possible rate. But this does not necessarily mean lower prices, as the prices of raw materials went up significantly after Russia's attack on Ukraine.
Last November, when the margins were reduced, the price of heating oil dropped below one euro per litre. Then it rose somewhat and has been just over a euro this year. On Monday, it was EUR 1.018 a litre.
Meanwhile, the price of regular petrol is now capped at 1,503 per litre, about six cents below the lowest price at the pump on Monday, and diesel at EUR 1,541, roughly 13 cents cheaper. The new regime will be in place for at least 30 days.
