Greek Consumers Brace for Impact as Persian Gulf Sparks Oil Rally
As global oil prices climb on fears of a supply shock, Greek consumers and businesses are preparing for a fresh wave of cost increases that could destabilize the country's fragile economic recovery. Greece is bracing for another surge in fuel prices, driven by mounting tensions in the Persian Gulf that risk igniting a fresh spike in global oil costs. On Sunday, Iran's Parliament approved a measure allowing for the possible closure of the Strait of Hormuz - a vital chokepoint for global energy shipments. The move has intensified fears of a supply shock, with analysts warning that crude oil prices could leap from $78 to as high as $90 per barrel. Such a spike would almost certainly cascade into the Greek market, putting renewed pressure on consumers and businesses already navigating a fragile economic recovery. Should these forecasts come true, the price of unleaded gasoline in Greece is expected to exceed €2 per liter for the first...
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