Fuel prices in Cyprus have climbed to particularly high levels, approaching the records registered in July 2022. Cyprus Consumers’ Association President Marios Drousiotis has voiced concern that prices are expected to continue rising.
Tax reduction offers limited relief
Commenting on Thursday’s Cabinet decision to extend the reduction in excise duty on motor fuels, Drousiotis said the measure saves consumers approximately 8.3 cents per litre, but prices remain very high.
Prices compared with 2022 records
Drousiotis recalled that fuel prices reached record levels on 12 July 2022, despite consumer relief measures already being in place.
At the time, 95-octane unleaded petrol reached €1.886 per litre, while diesel rose to €2.053 per litre.
He said current fuel prices remain approximately 9 to 10 cents below the 2022 records, with 95-octane unleaded petrol now selling for up to €1.718 per litre and diesel for as much as €1.989 per litre.
Drousiotis expressed concern over forecasts indicating that fuel prices will continue to rise.
Source: CNA
