Politis

Cyprus: Fuel Price Increases and Potential Price Caps on Essential Goods

Published March 12, 2026, 09:21
Cyprus: Fuel Price Increases and Potential Price Caps on Essential Goods

Significant increases in fuel prices have been observed in Cyprus since February 27th, with 95 octane gasoline rising by 6.5 cents, diesel by approximately 10 cents, and heating oil by 8.5-9 cents. These increases originate from refinery prices and have already been passed on to gas stations. Despite the increases, Cyprus remains among the countries with the lowest fuel prices in Europe. Konstantinos Karagiorgis, Director of the Consumer Protection Service, stated that the Service is monitoring prices and will intervene in case of profiteering. There are no issues with food imports, and recent shortages were due to consumer panic and stockpiling, which have now been resolved. Increases in electricity prices are expected. Regarding the imposition of price caps on essential goods, as done in Greece, there is a legal possibility in Cyprus, but it has not been deemed necessary due to competition and price fluctuations. In the meat sector, consumers may turn to alternative options, such as chicken, due to foot-and-mouth disease, which is being closely monitored by the Service.