Head of the Prosecution Service at the First Instance Court of Athens Ilias Zagoreos ordered a preliminary investigation in relation to the high prices in the Greek oil market despite the international oil price plunge which was triggered by low demand.

Prosecutor Dimitris Gyzis is to undertake the investigation and find out whether there is evidence for profiteering.

It should be noted that the prices of “black gold” have recently plummeted to a four-year low, at approximately $70 a barrel, while some estimate that they may even drop to $60 a barrel.

For Greek consumers the benefits are most evident in the prices of heating oil. For example, last year, the purchase of 1,000 liters of oil would cost someone who lived in Attica about 1,300 Euros. Today, the same quantity would cost 1,012 euros. It should also be noted that heating allowance beneficiaries would now pay approximately 679 euros for 1,000 liters.