Fuel prices are expected to increase further in the coming days, with petrol station operators and consumer representatives raising concerns over the growing cost of fuel, particularly heating oil.
Speaking to the “Mesimeri kai Kati” programme, Petrol Station Owners Association spokesman Christodoulos Christodoulou said operators were expecting one or two more small increases.
Heating oil raises concern
Christodoulou said the cost of heating oil was causing particular concern as winter approaches.
Consumers are currently asking about prices but remain hesitant to make large purchases, he said, adding that the current price level was already very high.
Asked whether consumers should buy heating oil now or wait until the end of November, Christodoulou said the difference might not be significant.
He said a small drop in prices would be welcome, while an increase of two or three cents would not make a major difference. The main concern, he stressed, was the overall level prices had reached.
More drivers buying fuel in occupied areas
Christodoulou also said more consumers were travelling to the occupied areas to buy petrol and diesel.
He said the trend was particularly affecting Nicosia and Famagusta, with more people crossing to fill their vehicles.
The petrol station owners’ representative called on the government to return to consumers additional VAT revenue generated by higher fuel prices.
He referred to estimates that additional VAT revenue could amount to €250 million, arguing that the money should be used to support consumers.
Consumer group calls for policy changes
Pan-Cyprian Consumers Association president Loukas Aristodemou was also critical of the government’s approach to the rising cost of living.
He said inflation, which he put at 5.2%, was effectively reducing the impact of any government support received by consumers. He also predicted that inflation could reach 6% by the end of the year.
Aristodemou rejected fuel vouchers as a fundamental solution, arguing that changes to government policy were needed instead.
He said consumers were under pressure from rising fuel prices as well as increases in food and electricity costs.
Malta cited as alternative approach
Aristodemou also pointed to Malta as an example of a different approach to fuel pricing within the European Union.
He claimed that petrol in Malta was consistently priced at around €1.34 per litre and diesel at €1.21.
He argued that fuel prices ultimately depend on the policies and approach adopted by each government, including which groups are prioritised for protection.
Also read: National Solidarity Fund platform opens for 1,200 haircut compensation applicants
For more videos and updates, check out our YouTube channel
