Indicators point to a further slight increase in fuel prices in the coming days, according to Savvas Prokopiou, president of the Petrol Station Owners Association, who spoke to CNA on Wednesday.
He said that the price of Brent crude had stabilised at just above $100 in recent days. He added that as the price of oil rises, the retail price increases even more, because factors calculated proportionally, such as VAT, are included in the wholesale price.
Prokopiou noted that significant revenue goes to the state and called on the Ministry of Finance to support vulnerable groups and professionals for whom fuel is their main expense. He also called for the heating oil subsidy for eligible residents in high-altitude areas to be doubled, saying this was possible.
According to information provided to CNA by the Consumer Protection Service, refinery fuel prices remain at the high levels reached in recent days and are not expected to fall.
Current prices
The average price of diesel across Cyprus on Wednesday, 14 October, was €2.019, according to figures from the Consumer Protection Service’s Fuel Retail Price Observatory at the Ministry of Commerce. The lowest price was €1.939, while the highest reached a record €2.126.
The average price of 95-octane unleaded petrol was €1.759, with the lowest at €1.669 and the highest at €1.829. For 98-octane unleaded petrol, the average price was €1.814, the lowest was €1.738 and the highest was €1.999.
Heating oil had an average price of €1.679 across Cyprus, with the lowest at €1.529 and the highest at €1.769.
Source: CNA
