Retail fuel prices in Cyprus increased less than the average across the 27 EU member states for both 95-octane unleaded petrol and diesel, according to the Consumer Protection Service.
The figures are based on a comparison between prices recorded in the February 23, 2026 bulletin and the average retail prices reported in the August 3, 10 and 17 bulletins, using data from the European Commission’s EU Oil Bulletin.
The price of 95-octane unleaded petrol increased by 27 cents per litre in Cyprus, compared with an average increase of 29 cents across the EU-27.
The increase in Cyprus was similar to that recorded in Greece, at 26 cents per litre, and Poland, at 27 cents. It was lower than the increases recorded in Belgium and Italy, at 34 cents, and Lithuania, at 32 cents.
Diesel prices also rose less
For diesel, retail prices in Cyprus increased by 36 cents per litre, compared with an average increase of 44 cents across the EU-27.
The increase was also lower than those recorded in Belgium, at 54 cents, Greece at 47 cents, Lithuania at 41 cents, Luxembourg and Poland at 39 cents, and Italy at 38 cents.
The Consumer Protection Service said consumer protection and the smooth functioning of the market remain key priorities, adding that it closely monitors fuel prices and continuously assesses market conditions.
Several factors affect prices
The service said it systematically monitors the fuel market using a broad range of data, including international benchmark prices, import costs, the time between purchasing, importing, storing and selling products, available stocks and domestic market conditions.
It also stressed that retail fuel prices are determined by a combination of factors and do not depend solely on changes in a single international benchmark.
These factors include purchase costs, existing stocks, insurance, transport and storage costs, distribution costs, taxation, competition and overall market conditions, as well as international benchmark prices for petroleum products.
Geopolitical developments can affect costs
The Consumer Protection Service noted that during periods of significant geopolitical developments and sharp movements in international oil markets, changes in the cost of petroleum products, as well as insurance and transport costs, can have a substantial impact on final retail prices.
It added that the time between the purchase, import, transport, storage and sale of a shipment is also an important factor when assessing retail price movements.
As a result, the service said the evolution of Fuel prices must be assessed by taking all relevant parameters into account, rather than relying solely on comparisons between the current crude oil or international benchmark price and the current price at the pump.
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