The price rally on the international fuel market continues unabated due to the outbreak of war in the Middle East. This “tsunami” of price hikes has swept through gas stations in Cyprus as well, resulting in diesel and gasoline selling for 14.3 and 29.9 cents more, respectively, in the span of just one month.
Konstantinos Karagiorgis, Director of the Consumer Protection Service, explained on the Alpha News program that no decreases in fuel prices are expected in the near future, as there is widespread international uncertainty regarding the course of the war.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
READ ALSO: “We may even approach 2 euros”: Gas stations are preparing for new price hikes
Mr. Karagiorgis said that yesterday saw the highest retail price for gasoline since the start of the conflict between the U.S., Iran, and Israel, expressing strong concern about the impact on shipments expected to arrive in Cyprus over the next ten days.
“The problems will mount up, and in the end, they will be passed on to consumers.”
READ ALSO: “Let’s not fool the public”: Double taxation on fuel and upcoming price hikes are on the table
Mr. Karagiorgis noted that consumers can track price trends at gas stations across Cyprus and identify the cheapest stations to take advantage of the savings.
“The price increases are in line with those in other European countries—and perhaps even better, since we are the third cheapest country for gasoline and eighth for diesel.”
SEE ALSO: Fuel: Extension of the price reduction measure amid rising prices; what’s expected for 2028
