Just one week after the outbreak of war in Iran, fuel prices at Greek service stations have surged sharply—and further increases are expected as global oil prices climb even higher. The Brent crude benchmark, which briefly appeared to stabilize near $85 per barrel in early trading, surpassed $87 by Friday afternoon (12:45 p.m. local time), with escalating developments on the war front increasingly reinforcing bearish outlooks for oil prices.
Immediate Impact on Consumers
The direct effect of this first week of conflict is already visible at the pump. While future price moves remain uncertain, current hikes—already passed on to consumers—translate into an extra cost of over €10 per full tank refill, depending on vehicle type and tank capacity.
Since the war began on February 28, 2026, Brent crude has risen by roughly $15 per barrel—reaching $84 on March 5—and that increase has already been reflected at service stations nationwide. According to official data on average retail prices, unleaded 95-octane gasoline has gone up by 8–10 cents per litre, while diesel has jumped 13–15 cents per litre.
Current Retail Prices
Nationwide, the average price of unleaded 95-octane gasoline now stands at €1.79 per litre—though some stations are already charging close to €1.90 or more. Market participants warn it’s only a matter of days before prices exceed €2 per litre, following Brent’s latest surge above $87. Refineries are expected to supply fuel at higher prices in the coming days, pushing retailers to adjust accordingly.
In practical terms, the roughly 10-cent rise in petrol and 15-cent hike in diesel means drivers face added costs ranging from €5–€6 up to €8–€12 per full tank—depending on engine size and vehicle category. This represents the average financial burden imposed in just one week of war, and with oil still below $85 per barrel at the time those figures were calculated.
Oil Markets Accelerate Further
On Friday, Brent crude tested the $90-per-barrel mark, gaining over 2% in value. At the same time, WTI crude surged past $84 per barrel, climbing nearly 4%.
The crisis has already taken a steep toll on consumers—who increasingly realize they’ll need to dig deep into their pockets if tensions persist on international energy markets for several more weeks.