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Fuel Prices Soar in Cyprus: Further Increases Expected

Published March 12, 2026, 15:55
Fuel Prices Soar in Cyprus: Further Increases Expected

Fuel prices in Cyprus are experiencing a significant increase due to the energy instability caused by the war in the Middle East. Since the beginning of March, gasoline has risen by 7.5 cents, diesel by 11 cents, and heating oil by 10 cents. A further increase of approximately 5 cents is expected next week. Current diesel and heating oil prices are higher than those of March 2022, while gasoline remains slightly lower. The President of the Cyprus Consumers Association, Marios Drousiotis, recalls that in 2022 the government had imposed a fuel subsidy and wonders on what grounds it will refuse to do so now, given the increase in the general consumer price index by about 9%. He also points out that the measures to release strategic oil reserves are temporary. The average fuel prices at 11:00 are 1.385 euros for gasoline, 1.518 euros for diesel, and 1.040 euros for heating oil.