Further increases in fuel prices are expected in the coming period, according to the Director of the Consumer Protection Service, Konstantinos Karagiorgis.
Speaking to the Cyprus News Agency (CNA), Karagiorgis said the outlook for fuel prices was not positive for consumers, as refinery prices are showing an upward trend.
“There is a possibility that, if nothing changes, the next fuel supplies to be received will come with additional increases,” he said, stressing that the current trends were unfavourable for consumers.
Current fuel prices
According to the Retail Fuel Price Observatory, the average nationwide price of unleaded 95 petrol on Monday morning stood at €1.625 per litre.
Prices ranged from €1.545 to €1.718 per litre.
The average price of diesel stood at €1.884 per litre, with the cheapest available at €1.795 and the most expensive at €1.989.
Heating oil averaged €1.50 per litre, ranging from €1.389 to €1.655.
Significant increases since July
Data from the Consumer Protection Service show that fuel prices have been rising since 13 July.
The price of unleaded petrol has increased by 16 cents per litre during this period, while diesel has risen by 31.8 cents per litre.
Heating oil has also increased by 13.7 cents per litre over the past month and a half.
Cyprus still among cheapest in EU
Despite the recent increases, Cyprus remained among the countries with the lowest fuel prices in the European Union based on figures dated 31 August.
The price of unleaded 95 petrol in Cyprus was the third lowest in the EU, behind Malta and Bulgaria.
For diesel, Cyprus ranked as the eighth cheapest country in the EU.
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