Fuel price trends in Cyprus amid Middle East uncertainty

The Consumer Protection Service and the Pan-Cyprian Association of Liquid Fuel Retailers report mixed trends in fuel prices in Cyprus. Since May 10, the retail price of diesel has decreased by an average of 9 cents per litre. Conversely, the price of 95-octane petrol has increased by an average of 5 cents per litre during the same timeframe. Constantinos Karagiorgis, director of the Consumer Protection Service, noted that Platts prices for fuel have shown a downward trend since May 20. If this trend continues, further reductions in retail diesel and 95-octane petrol are expected. However, authorities warn that reliable long-term forecasts remain impossible due to ongoing geopolitical instability in the Middle East involving Iran. Market fluctuations are directly linked to the absence of a definitive regional agreement, making the future cost of petroleum products highly unpredictable.