Greek Households Hold Back as Winter Heating Bills Loom

ATHENS, October 2026 — Heating oil orders across Greece remain sparse despite a 40-cent-a-litre price cut, as households shop around, buy small amounts and turn to air conditioners and firewood instead. Most consumers are only phoning suppliers to compare offers for now, ERT News reported. Those who do place heating oil orders are buying just enough fuel to cover one month. The average price at the start of the season stood at €1.56 a litre, even after the reduction. That figure is 39 per cent higher than last year and the highest ever recorded, ERT said.

Why households are holding back heating oil orders

Until now, the record came in 2022, when the war in Ukraine pushed the opening price to €1.41 a litre. Consumption could fall again, as it did in 2023. In that year, demand dropped from 1.38 billion litres to 930 million litres within 12 months. Northern Greece shows the same caution, even though colder weather there puts more pressure on families to stock up. Heating oil orders in the region are small, while demand for firewood is higher. Many households are also likely to heat their homes with electricity this winter to make use of the larger heating allowance, ERT reported. Even so, consumers must choose their power provider and tariff carefully, because prices vary widely, the broadcaster warned.

Subsidy and support measures

The state pays 20 cents a litre under a government package that took effect on 15 October. Refineries take off another 20 cents, and the combined cut lasts to 31 October. Before the cut, the Ministry of National Economy and Finance expected the season to open at about €1.95 a litre. For households that qualify for the heating allowance, the ministry puts the real cost closer to €1.35 a litre. GCT earlier reported how the government set up the subsidy scheme. More fuel subsidy rounds should follow in November and December under the winter support plan. The heating allowance, which officials expect to rise by 30 per cent, falls due on 23 December. Before placing heating oil orders, consumers can compare prices by region on the official fuel prices observatory. Source: ERT News

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