It will take 6-12 months for the fuel market to recover

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The fuel market will take time to absorb the shock of the coronavirus pandemic, Hellenic Petroleum CEO Andreas Shiamishis has warned.

“We do not expect to see the fuel market revert to normal any earlier than the next six to 12 months, and even at the end of the recovery process we will not have returned to the point we started from before the outbreak of the pandemic,” he told the 5th Energy Transition Symposium organized by the Hellenic Association for Energy Economy.

In the last seven months there has been a dramatic restructuring of the fuel market, with consumption dropping by up to 90% in some sectors, such as air fuel.

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