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Cyprus: Second Cheapest Gasoline in EU - Situation Stable

Published March 17, 2026, 14:11
Cyprus: Second Cheapest Gasoline in EU - Situation Stable

Cyprus currently has the second-lowest gasoline price and the fourth-lowest diesel price in the European Union, according to Government Spokesperson Konstantinos Letymbiotis. The government is closely monitoring the situation due to the impact of the Middle East conflict and evaluating the need for additional economic support measures for citizens. Existing measures include electricity subsidies and a zero VAT rate on essential goods. Mr. Letymbiotis stated that the duration of the regional crisis will affect the situation, not only in Cyprus but globally. Regarding the extension of reduced VAT measures, which expire on April 1st, he said that the evaluation is ongoing by the relevant Ministries. The government emphasizes the importance of strong fiscal margins that allow it to take support measures. Responding to criticism regarding the communication exploitation of the crisis, the Spokesperson stressed that normalcy in the country is maintained and that the Government is focused on ensuring the safety of citizens. Regarding tourism, Mr. Letymbiotis noted that flight schedules were initially affected, but the majority have returned, except for areas at the center of the crisis. He expressed optimism for this year's tourist season, emphasizing that Cyprus remains a quality tourist destination.