Further reductions in fuel prices are expected in the coming days, according to Savvas Prokopiou, President of the Association of Gas Station Owners, speaking on the “Alpha Kalimera” program.

Mr. Prokopiou expressed his satisfaction with the two-month extension of the reduced excise tax rate on fuel, thanking the relevant minister for the decision, which provides “some breathing room” for citizens’ wallets.

As he explains, without the subsidy, the price of gasoline would currently be around €1.61–€1.66, and diesel would be close to €1.75.

Mr. Prokopiou notes that while uncertainty in the international market has subsided and prices have fallen, these reductions are reaching Cypriot gas stations with a significant delay.

“Prices are still high; we expect further reductions in the coming days.”

Mr. Prokopiou argued that, based on current international data, further reductions in fuel prices are warranted. The expectation is that these reductions will become apparent in the coming days, so that consumers can directly feel the restoration of market balance in their personal finances.