Diesel has reached a record high of 2.126 euros a litre at the most expensive filling stations in Cyprus. The president of the Petrol Station Owners’ Association expects small further increases in fuel prices in the coming days. The average diesel price across Cyprus stood at 2.019 euros a litre on Wednesday.
Association president Savvas Prokopiou said on Wednesday that the signs pointed to new, small increases. He noted that Brent crude had stabilised at just over 100 dollars a barrel in recent days. Charges calculated as a percentage of the price, such as VAT, add to the retail cost as oil prices rise, he said.
Refinery fuel prices remain high and are not expected to fall, according to the Consumer Protection Service.
Prokopiou called on the Finance Ministry to support vulnerable groups and professionals for whom fuel is their main expense. He also urged it to double the heating oil subsidy for eligible people living at high altitudes. He argued that the state’s increased revenue from fuel made such support possible.
Prices on Wednesday
According to the Consumer Protection Service’s retail fuel price observatory, prices on Wednesday, 14 October, were as follows. Diesel averaged 2.019 euros a litre, ranging from 1.939 euros to 2.126 euros. Unleaded 95 averaged 1.759 euros, ranging from 1.669 euros to 1.829 euros. Unleaded 98 averaged 1.814 euros, ranging from 1.738 euros to 1.999 euros. Heating oil averaged 1.679 euros, ranging from 1.529 euros to 1.769 euros.
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