Rising fuel prices spark concern
The Cyprus Consumers Association has called for the immediate reinstatement of the fuel subsidy, highlighting that fuel prices have surged since 1 March 2026 and are expected to continue rising.
According to the Association, since 1 March, the price of 95-octane petrol has increased by €0.107 per litre, diesel by €0.167 per litre, and heating oil by €0.136 per litre. The Association warns that these increases are likely to persist over the coming weeks.
Comparison with 2022 prices
The Association notes that current fuel prices remain significantly higher than during the first government subsidy in March 2022. At that time, 95-octane petrol was €1.443 per litre, compared with today’s €1.422. Diesel has risen to €1.58 from €1.501, and heating oil now costs €1.086, up from €1.026.
Consumer prices have also increased, with the Consumer Price Index at 117 units today compared with 107 in March 2022.
Economic feasibility of subsidy
The Association stresses that the government’s public finances are strong enough to support a temporary reinstatement of the fuel subsidy without significant fiscal impact. They argue that since households are struggling with rising costs, reinstating the subsidy is a necessary measure.
The projected impact of the subsidy would reduce retail fuel prices by €0.083 per litre for petrol and diesel and €0.062 per litre for heating oil.
Call for government action
The Cyprus Consumers Association has urged the Ministry of Finance to consider the current economic pressures on consumers and seriously evaluate the immediate return of the fuel subsidy.
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