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New Fuel Price Increases Expected in Cyprus - 90-Day Supply Available

Published March 20, 2026, 12:13
New Fuel Price Increases Expected in Cyprus - 90-Day Supply Available

Fuel station owners in Cyprus expect a further small increase in fuel prices in the near future, while estimating that there is no immediate risk to fuel supplies, which are sufficient for approximately 90 days. The recent price increase has been gradual, with increases every two to three days. According to the President of the Pan-Cypriot Association of Fuel Station Owners, Savvas Prokopiou, a gradual increase in prices of 5-6 cents is expected. The issue of prices is being examined by the Consumer Protection Service in cooperation with fuel importing companies. Mr. Prokopiou referred to the need for fuel subsidies, as had been done in 2022, with a subsidy of 8.3 cents on gasoline and 6.5 cents on heating oil. He believes that imposing a price cap is difficult in Cyprus, as it did not work effectively in the past. He points out that the state has additional revenue from VAT due to the increase in fuel prices and that partial state subsidies for fuel should be considered.