From April 1, prices for gasoline will increase in CyprusThe Cabinet of Ministers of the Republic of Cyprus has decided not to extend the validity period of state subsidies for fuel. From April 1, gasoline prices will increase by 8.33 cents, and diesel fu

The Cabinet of Ministers of the Republic of Cyprus has decided not to extend the validity period of state subsidies for fuel. From April 1, gasoline prices will increase by 8.33 cents, and diesel fuel prices will rise by 6.39 cents per liter.

It is worth reminding that until March 31, a reduced consumer tax applies to the sale of gasoline and diesel fuel at gas stations in the Republic of Cyprus.

From April 1, the authorities decided to cancel the reduced tax. Instead, targeted measures will be introduced for low-income families and those receiving the minimum guaranteed income from the state.

Also, as part of the latest package of measures aimed at supporting the population, the subsidy for electricity will be extended until the end of June.

Earlier reports indicated that the Republic of Cyprus is among the top three EU countries with the cheapest gasoline at gas stations. The president of the country, Nikos Christodoulidis, warned about the increase in fuel prices from April 1.

According to Finance Minister Makis Keravnos, even after the cancellation of fuel subsidies, Cypriot prices will remain among the lowest in the European Union.

As of the morning of March 29, gasoline 95 at gas stations in the Republic of Cyprus costs from 1.349 to 1.478 euros per liter, and diesel fuel from 1.444 to 1.559 euros per liter.