Philenews

Fuel Prices Soar in Cyprus: 10 Cents per Liter for Gasoline, 15 Cents for Diesel

Published March 13, 2026, 12:13
Fuel Prices Soar in Cyprus: 10 Cents per Liter for Gasoline, 15 Cents for Diesel

Fuel prices in Cyprus are experiencing a rapid increase in recent weeks, burdening households. Diesel has seen the largest increase, with more than 15 cents per liter, while 95-octane unleaded gasoline has risen by over 10 cents. Despite the increase, prices remain lower than the historical highs of 2023. Compared to prices on November 2, 2023, before the government's intervention in consumption tax, gasoline is 13.4 cents cheaper, diesel is 14.7 cents cheaper, and heating oil is 16.1 cents cheaper. Cyprus remains one of the cheapest countries in the EU in terms of final fuel prices, due to lower tax rates. Specifically, 95 gasoline is the second cheapest in the EU (€1.320 average price), while diesel is the fourth cheapest (€1.401 average price). However, when taxes are removed, Cyprus is in the middle of the list of EU countries in terms of the price of oil import and trade. This situation creates concern, as the international trend in oil prices is worrying, with Brent oil prices exceeding $100 per barrel.