Finance Minister Makis Keravnos is expected to propose extending Cyprus’s reduced consumption tax on fuel until November, at the next Cabinet meeting, keeping fuel prices 8.33 cents per litre lower than they would otherwise be.
The plan emerged during a discussion in the parliamentary Trade Committee on an unrelated harmonising bill aimed at promoting the use of renewable energy sources, including in the transport sector, and the use of sustainable fuels in aviation.
Technocrats revealed during that discussion that the current measure, due to expire on September 17, is intended to be extended for a further two months, according to a Finance Ministry representative.
The Finance Ministry will submit a bill to Parliament to put the extension into effect.
