Following the recent increases in international oil prices, Cypriot consumers are facing a new wave of fuel price hikes. Appearing on the “Alpha News” program, Christodoulos Christodoulou, spokesperson for the Pet Station Owners’ Association, sounded the alarm about upcoming prices at the pump.

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Mr. Christodoulou refuted officials’ reassuring statements about “small increases,” emphasizing the magnitude of the burden on citizens. “Two days ago, Mr. Karageorgis announced that we would see small increases next week. Instead, yesterday they raised diesel prices by five cents and gasoline prices by three cents. Five and three cents are not small increases,” he said, noting that the rise in the price of a barrel to $86–87 internationally directly affects the domestic market.

Although current average prices show 95-octane unleaded gasoline holding steady at around 1.471 euros, the spokesperson for gas station owners clarified that this is temporary. As he explained, so far only one company has implemented the new, higher prices. “In the coming days, once all companies have implemented the changes, gasoline will be around 1.50 and diesel around 1.62,” he warned.

Commenting on how international geopolitical developments are affecting the Cypriot market, Mr. Christodoulou highlighted the striking speed of these changes. “A statement from the U.S. that affects the Middle East reaches the gas station here in Cyprus. The speed. That’s the issue,” he noted, explaining that retail prices react instantly to international fluctuations and statements by foreign leaders.

Although the government’s reduction in the excise tax offers temporary relief until September 17, concern about the future remains high. In the event that oil reaches $100 per barrel, Mr. Christodoulou expressed the hope that we would not return to the extreme prices of the past, when gasoline had reached 1.70 and diesel 1.85 at the height of the previous crisis.