Dialogos

Pressure on Fuel Prices and Households

Published March 25, 2026, 07:02
Pressure on Fuel Prices and Households

International oil prices are on an upward trajectory, fueled by the uncertainty caused by the war in the Middle East. The president of the Pan-Cypriot Association of Petrol Station Owners states that it is difficult to predict the maximum point prices will reach, as they are constantly changing depending on developments on the front lines. According to Mr. Prokopiou, the price of diesel in Cyprus reached €2 per liter when the barrel touched $120 in 2022, while 95 octane gasoline approached €1.80. A more stable picture could be formed if the price of the barrel remains below $100. Mr. Prokopiou criticizes the market monitoring mechanism, believing that the checks by the Consumer Protection Service are superficial and calls for pressure to be exerted on companies to keep prices down. In addition, he reiterates the request for a reduction in fuel taxes, characterizing it as a "universal demand" of society amid rising cost of living and expresses hope that state intervention will improve the situation.