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Industry revenue of »retail sale of automotive fuel in specialised stores« in Greece 2011-2023

Over the past decade, prices of diesel and petrol have risen rapidly in Greece. In fact, in 2017, the average price for a litre petrol amounted to 1.52 euros, making the country the third most expensive in Europe for petrol. This has not augured well for the fuel retail sector, with revenues projected to decline drastically from 11.1 billion U.S. dollars in 2011 to 2.8 billion U.S. dollars by 2023. Additionally, the on-going financial crisis has led to a recession, which has affected vehicle sales over the years, and in turn, the fuel retail sector. Some of the leading car manufacturers in the world such as Toyota, Ford and Volkswagen have witnessed as much as a 75 percent decline in sales in the decade leading to 2019.

Further, Electric cars are expected to witness rapid growth in the short to medium term, backed by favorable government initiatives such as tax cuts and lower duties. The government plans to have a 30 percent fleet of electric cars in the country by 2030, as part of its ten year climate plan in order to lower carbon emissions. In fact, this is the trend in majority of the European countries and hence the fuel retail sector is facing an uncertain future.

Industry revenue of »retail sale of automotive fuel in specialised stores« in Greece from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Greece. The industry “retail sale of automotive fuel in specialised stores“ has the code “G473“.

Details on the methodology can be found here.

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