Cyprus, Nicosia

Gas Prices Drop in Cyprus

15.05.2024 / 17:54

In mid-May, retail prices for gasoline and diesel fuel at gas stations in the Republic of Cyprus decreased. The price difference at the pumps reached 5-6 euros per full tank.

According to Constantinos Karayorgis, the director of the Consumer Protection Service, fuel prices follow a cyclical pattern. After a rise in prices from April 1st, they peaked by mid-May and gradually began to decline.

The drop in fuel prices followed a decrease in oil prices on the international markets, which began in April, subsequently affecting Cypriot consumers. "It's possible that after the next wholesale fuel purchase from abroad, retail prices will decrease even further," explained an expert.

On May 15th, prices for 95-octane gasoline ranged from 1.515 to 1.623 euros (a difference of 10.8 cents per liter), and for diesel fuel, from 1.515 to 1.648 euros (13.3 cents).

The Consumer Protection Service under the Ministry of Energy monitors price fluctuations and intervenes if the difference becomes too significant.

Retail prices for gasoline and diesel fuel at gas stations can be tracked on the website of the Ministry of Energy, Commerce, and Industry of the Republic of Cyprus.

Read also: Where Can You Find the Cheapest Gasoline in Cyprus?