Cyprus fuel prices soar towards 2022 crisis levels
"Cypriot motorists are facing exceptionally high fuel costs as petrol and diesel prices approach the peak levels of the 2022 energy crisis. Despite government excise duty reductions saving 8.3 cents per liter, gasoline has reached €1.718 and diesel €1.989, with further price increases anticipated soon."
EU Directive 2019/790 Article 15 Attribution • Verified Energy Document
Cypriot motorists are facing alarmingly high fuel costs as petrol and diesel prices approach the peak levels witnessed during the severe energy crisis of 2022. Further increases are anticipated in the near future.
Marios Drousiotis, president of the Cyprus Consumer Association, highlighted to the Cyprus News Agency that despite existing government measures aimed at alleviating consumer burden, fuel prices remain exceptionally high.
The cabinet recently decided to extend the reduction in excise duty on motor fuels, a measure that currently saves drivers approximately 8.3 cents per liter. However, Drousiotis emphasized that even with this tax relief, fuel remains expensive.
To put the current situation into perspective, on July 12, 2022, unleaded gasoline hit a record €1.886 per liter, while diesel reached €2.053 per liter. These figures were recorded even after initial support measures had been implemented.
Although current prices have not yet surpassed these all-time highs, the difference is now significantly smaller. According to Drousiotis, gasoline is currently selling for up to €1.718 per liter, with diesel reaching €1.989 per liter.