Fuel Prices Expected to Rise Further Despite Recent Increases in Cyprus
Representatives from Cyprus's fuel sector foresee continued increases in fuel prices, despite recent significant hikes in gasoline, diesel, and heating oil. Savvas Prokopiou, president of the Association of Gas Station Owners, indicated that the government might need to implement additional targeted measures beyond reducing the special consumption tax to assist vulnerable populations.
Marios Drousiotis, president of the Cyprus Consumers’ Association, emphasized the importance of subsidizing heating oil. He urged the finance and energy ministries to guarantee that subsidies benefit consumers directly and are not diverted to gas station owners. The ongoing concerns highlight the challenges faced by both consumers and stakeholders amid rising energy costs.
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