The Minister of Development and Investment, Adonis Georgiadis, responded to a statement issued by the SYRIZA government on January 9, 2017, on the occasion of the TV spot released today by SYRIZA on fuel prices, which contains an excerpt from his statement.
“Instead of responding to the spot of @syriza_gr with my own words, today I preferred to respond with theirs λοιπόν so read the announcement of the Ministry of Development and Investment of 09/01/2017 on Syriza for the then large increases in fuel… .continently they forget that they ruled! ” notes the minister in a post on Twitter.
The announcement of the ministry is as follows:
“The Minister of Development and Investment, ‘Adonis Georgiadis, on the occasion of the TV spot released today by SYRIZA on fuel prices and in which an excerpt from his statement is quoted, instead of another answer, refers to the press release of the Ministry of Economy and Development on government and the Ministry of Municipality of Papadimitriou, issued on January 9, 2017 to explain the increase in the price of fuel after the increase in the Special Consumption Tax.
In the press release, Mr. D. Papadimitriou states, among other things:
“The increase in the Excise Tax affects the tax burden by 3.7 cents for petrol, 10 cents for heating oil and 7 cents for LPG.
(…) The Ministry of Economy has taken all necessary steps to avoid any cases of notoriety given the upward trend in international oil prices.
The price of crude oil is traded on international stock exchanges. Brent crude oil is commonly used as a benchmark internationally for pricing other types of crude oil.
According to data from the Electronic Intercontinental Exchange (ICE), the Brent crude oil stock index in 2016 recorded the largest annual increase since 2009. Since November 30, after the agreement to reduce production by its members OPEC and other countries, crude oil prices have risen by 25%, reaching a high of 18 months.
This sharp increase in international oil prices is attributed to the fundamental rules of the market and specifically to the reduction of excess supply after the agreement to reduce production by almost 1.8 million barrels per day, which was activated from 1/1/2017.
In addition, the price of crude oil is traded in US dollars. Therefore, the prices of crude oil supplied by refineries in Greece are also affected by the exchange rate of the euro against the dollar, which fell by about 3% in 2016, while the pressures intensified particularly in the last 3 months of the year (fall over 7% ), due to the forecasts for a gradual increase in US interest rates, affecting international crude prices accordingly in the European market. The increase in crude oil prices in euro terms in the last year is of the order of 60% and amounts to 12.9 euro cents “.
The SYRIZA spot to which Mr. Georgiadis responded:
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Source From: Capital
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