Prices at Cypriot gas stations remain consistently high, and the road to price reductions is still long, even as international oil prices fall below $100 per barrel.
“Based on our own estimates as gas station owners, we think there will be one more small increase, and then prices will stabilize at a lower level. But that could happen in ten days, or fifteen days—we’re not sure.”
Christodoulos Christodoulou – Spokesperson for the Gas Station Owners’ Association
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
At gas stations, the average price of unleaded 95 is 1.74, diesel is 2.02, and heating oil is 1.66.
Regarding heating oil, there is growing outcry over the government’s announced measure to reduce the excise tax by 5.3 cents per liter.
“Heating oil has risen by 71 cents per liter since March 1, which was the first day of the war. At the very least, VAT on heating oil should be reduced, because this is a drop in the bucket.”
Marios Drousiotis – President of the Cyprus Consumers’ Association
“To fill up a tank, you used to need 1,660 euros, and now you’ll need 1,610. In other words, it’s a reduction of about 50 euros. 50 euros out of 1,600—as you can see, it’s essentially nothing. People are reacting to this aspect.”
Christodoulos Christodoulou
Rising energy costs are also hitting supermarkets.
“It’s a given that there are requests, but these requests don’t automatically mean a price increase for the product. The requests are being reviewed, and negotiations are underway with the supermarkets; fortunately, in our sector, there are no monopolies or oligopolies—competition is so intense.”
Marios Antoniou – Secretary General of the Retail Trade Association
The Retail Trade Association is proposing a permanent reduction in the VAT rate on certain essential goods, such as baby diapers.
Watch the report by Rafaella Stavrinou:
