Fuel prices have been on a steady upward trend in recent weeks, causing serious concern and placing a significant strain on household budgets. Discussing the current market situation, forecasts for the future, and consumers’ serious concerns on the “Alpha Summer” program were Christodoulos Christodoulou, Spokesperson for the Association of Gas Station Owners, and Marios Drousiotis, President of the Cyprus Consumers’ Association.
Speaking on behalf of the gas station owners, Mr. Christodoulou made it clear that the price hikes are already a reality and have reached particularly high levels. As he noted, from mid-July to the present, gasoline prices have risen by 12 cents per liter, diesel by 19 cents, and heating oil by 10 cents.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
At the same time, he explained that price fluctuations depend on international prices and the companies’ purchases from refineries, noting that after possibly a few more small increases, prices are expected to stabilize in 10 to 15 days with the arrival of new shipments. “It’s too early to draw any definite conclusions; the international price of oil needs to stabilize. However, we gas station owners also expect prices to fall,” he noted.
The President of the Consumers’ Association, Marios Drousiotis, highlighted what he called the unjustifiable wave of successive price hikes within just three weeks (5 cents one week and another 6 cents the very next), criticizing the fact that consumers are being asked to pay unbearable costs without adequate justification.
At the same time, Mr. Drousiotis denounced the complete lack of transparency on the part of the Competent Consumer Protection Agency, which cites “confidential information” and refuses to disclose the price calculation formula. Questioning the link between the price hikes and international trends, he presented data showing that the average price of crude oil (Brent) rose by just $7 per barrel (from $71 to $78) between March and July, while prices at the pump in Cyprus skyrocketed.
“There is no justification for a $7-per-barrel increase to result in such enormous price differences. We are finally demanding substantiated explanations,” he emphasized.
