The decline in international oil prices is gradually being reflected in retail fuel prices in Cyprus, which, however, remain at high levels, the Director of the Consumer Service at the Ministry of Energy, Trade, and Industry, Konstantinos Karagiorgis, told CNA, noting that over the past 30 days there have been decreases in the prices of both 95-octane unleaded gasoline, diesel fuel, and heating oil.
“In recent weeks, there has been a significant decline in international Platts prices for petroleum products, which have fallen significantly from the high levels recorded in September and October.”
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Specifically, Mr. Karagiorgis said that as of November 11, 2026, the Platts price of 95-octane unleaded gasoline had fallen by 20.3%, while decreases were also recorded for diesel fuel and heating oil, by 6.9% and 9.2%, respectively.
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Referring specifically to the decline in retail fuel prices in Cyprus, the Director of the Consumer Service cited data from the Retail Fuel Price Observatory, noting that over the past 30 days, decreases of 7.2 cents per liter were recorded for 95-octane unleaded gasoline, 2 cents per liter for diesel fuel, and 9.6 cents per liter for heating oil.
He noted that the decrease in the price of heating oil also reflects the impact of the government’s measure to reduce the excise tax on this particular fuel.
Finally, Mr. Karagiorgis assured that the Consumer Protection Agency “continues to systematically monitor trends in international and domestic petroleum product prices, with the aim of enhancing market transparency and protecting consumer interests.”
