The price of regular unleaded fuel will increase by 2.3 cents to EUR 1.477, while premium unleaded will rise by 2 cents to EUR 1.504.

Diesel will be 2.1 cents dearer, which makes one litre cost EUR 1.366, while heating oil will be only 0.1 more expensive at EUR 1.003 per litre.

Retail prices of petrol are usually adjusted every two weeks taking into account the price of oil derivatives on the Mediterranean markets and the exchange rate of the US dollar.

However, the latest increase in prices comes in order to substitute a part of revenue loss in the state budget after the new real estate tax was repealed late March.

So far, excise on alcohol has already been increased as part of the compensation, while a rise in excise on tobacco has been announced for 1 May.

The general effect on the state budget due to the increase of excise on energy sources is estimated at EUR 2m per month, while the government does not expect the new excise to affect the April inflation rate.