Energy crisis: how much countries pay for fuel and electricity – Greece’s position – Economic Mail

In seventh place in terms of the most expensive fuel and 13th in terms of the most expensive natural gas in the world, Greece came, according to data from GlobalPetrolPrice.com, which he lists oilprice.com.

The energy crisis affecting the planet has led to higher pricesat historically high levels to several countries.

Read also: Skrekas: Now is the time to put a cap on natural gasg

Gasoline, electricity and natural gas prices have skyrocketed as the Russian invasion of Ukraine disrupts global energy supply chains. Households and businesses face higher energy bills amid wild price swings. Uncertainty surrounding the war is high and heating costs are expected to rise in the winter.

Also read – Shock and awe as electricity rises by 30%

petrol

At an average of $11.10 per gallon, households in Hong Kong pay the highest levels of gasoline in the world—more than double the global average. High gas taxes and high land costs are the main factors behind the high gas prices.

Followed by Central Africa with 8.6 dollars and Iceland with 8.5 dollars.

Greece ranks seventh in the world in terms of the cost of gasoline prices according to GlobalPetrolPrices.com at $7.6 per gallon. (sb one gallon corresponds to 3.78 liters, that is, it calculates the price per liter of just over 2 euros).

Electricity

Strong fluctuations in electricity prices were also observed.

The majority of the highest household electricity prices are found in Europe, with prices in Denmark, Germany and Belgium being almost twice as high as those in France and Greece. Electricity prices in many European countries are more than double or triple the global average of $0.14 per kilowatt-hour.

In the first quarter of 2022, household electricity prices in the European Union increased by 32% compared to the previous year.

In the United States, electricity prices rose about 16% annually compared to September last year, the highest increase in more than four decades, driving up inflation.

However, households are more protected from the impact of Russian supply disruptions because the United States is a net energy exporter.

natural gas

Eight of the top ten highest gas prices in the world are in Europe, with the Netherlands at the top. In general, European gas prices have increased sixfold in the year since the invasion of Ukraine.

The good news is that the fall season was relatively warm, which helped drop demand for natural gas in Europe by 22% in October compared to last year. This helps reduce the risk of gas shortages occurring later in the winter.

Outside Europe, Brazil has the fourth highest price of natural gas in the world, despite producing about half of its domestic supply.

Greece is ranked 13th.

window of optimism

As Europe searches for alternatives to Russian energy, rising demand may lead to increased global competition for fuel sources, leading to higher energy prices in the coming months.

However, there is room for optimism: The World Bank projects that energy prices will fall 11% in 2023 after a 60% increase after the war in Ukraine in 2022.