Philenews

Fuel Price Hikes Expected in Cyprus, Petrol Station Owners Warn

Published March 9, 2026, 12:15
Fuel Price Hikes Expected in Cyprus, Petrol Station Owners Warn

Petrol station owners in Cyprus are warning of gradual increases in fuel prices in the coming weeks, due to the significant rise in international oil prices. The price of crude oil has increased significantly in recent days, from around $93 a barrel to over $117. These increases are expected to be passed on to the retail fuel market, with a first small increase already recorded. Petrol station owners estimate that further price increases will follow in the near future, possibly larger than previous ones. The evolution of prices depends on many factors affecting the energy market, including geopolitical tensions. The increases are partly due to fears of conflict in the region and recent attacks on oil facilities.