Cyprus extends fuel tax reduction for two months

The Cypriot Council of Ministers, led by President Nikos Christodoulides, has approved a two-month extension for the reduced excise tax on motor fuel. The measure will remain in effect from July 1, 2026, until August 31, 2026, at a total fiscal cost of 12 million euros. Government Spokesman Konstantinos Letymbiotis announced the decision on June 24, 2026, noting that while energy prices are de-escalating globally, they remain above normal levels due to ongoing geopolitical developments. This policy is a continuation of a measure initially adopted on March 26, 2026. That original action was part of a broader eight-measure support package worth 200 million euros designed to assist households, employees, and businesses. The extension aims to continue easing the financial burden caused by elevated energy costs.