From today, fuel prices have increased in Cyprus

Starting from Monday, April 1st, fuel prices at gas stations in Cyprus have risen. Gasoline has increased by 8.3 cents per liter, and diesel fuel by 6.3 cents per liter.

Further increases are expected in the near future, by approximately 2-3 cents. This is due to the rise in oil prices on international markets.

The international price of Brent crude oil continues to steadily rise, fluctuating around $87 per barrel, indicating that a potential decrease in prices is unlikely to occur in the near future.

Additionally, it is expected that the introduction of a "green" tax in October will lead to further increases in fuel prices, although the government is still working on compensatory measures and incentives to mitigate price increases.

It was previously reported that the Cabinet of Ministers of the Republic of Cyprus decided not to extend the period of state subsidies for fuel.

Until March 31st, a reduced consumer tax was applicable for the sale of gasoline and diesel fuel at gas stations in the Republic of Cyprus. From April 1st, the authorities decided to abolish the reduced tax. Instead, targeted measures are being introduced for low-income families and those receiving the minimum guaranteed income from the state.

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

As of the morning of April 1st, at gas stations in the Republic of Cyprus, 95-octane gasoline costs between 1.51 and 1.56 euros per liter, and diesel fuel between 1.59 and 1.64 euros per liter.

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

Where is the cheapest gasoline in Cyprus?