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article imageGreeks spend more of their income on petrol than other nations

By Katerina Nikolas     Feb 14, 2013 in World
Greeks spend more of their income on petrol than other nations, according to a gasoline price country comparison survey by Bloomberg. At $8.62 per gallon Greek prices are the sixth most expensive by country comparison.
Bloomberg published the 60 country-wide gasoline comparison prices, based on January prices, which show austerity racked Greeks need to spend 15 percent of a day's wages to buy a gallon of petrol at $8.62 (€6.43).
Prices have continued to rise at the petrol pumps this year. Ekathimerini reported the price of unleaded gasoline has increased by 3.62 percent during 2013. Taxes and other charges account for almost 60 percent of the cost to the consumer.
The pricing information came during the week when Greek Finance Ministry general secretary Giorgos Mergos caused outrage by saying the minimum wage in Greece is too high. In January 2012 the minimum gross monthly wage was slashed from €780 to €586, and to €511 for under 25's. According to KTG Mergos takes home a monthly net salary of €6,200 from his position in the Finance Ministry and a further position with the Financial Stability Fund.
Ekathimerini reports that Greek Finance Minister Yannis Stournaras has stated there are no plans to reduce the minimum wage further. Stournaras said "We repeat that the minimum wage will not be reduced further and we are sorry if this spoils the plans and hopes of some people."
However, his words were contradicted by European Economic and Monetary Affairs Commissioner Olli Rehn who has said the minimum wage will be reviewed in 2014, to ensure competitiveness in the economy.
The coalition of the extreme left, SYRIZA, had accused the coalition government of planning to reduce Greek wages to the same level of Romania and Bulgaria. Incidentally, petrol prices are lower in each of those countries, at $6.70 and $6.53 respectively.
Protesters are currently staging a sit-in at the office of Mergos and riot police have been called to remove them.
More about Gas prices, Petrol Prices, Greek petrol, Greek spending
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