Cyprus Consumers Association questions recent fuel price hikes

The Cyprus Consumers Association has expressed strong concerns regarding the current retail fuel prices in the country, suggesting that existing market levels may not be fully justified. While the association acknowledges that instability in the Middle East is a contributing factor to the rising costs, its president, Marios Drousiotis, argues that there are clear indications that the magnitude of these increases exceeds what is necessary.

Specific data provided by the association highlights a significant concern regarding heating oil, which has seen its price surge by approximately 50% since March 1, rising from €0.950 to €1.438 per liter. This shift imposes an additional cost of nearly €488 for households filling a 1,000-liter tank. Furthermore, reports indicate that 95-octane gasoline and diesel prices have risen by 21% and 26% respectively over the same period, despite the inclusion of an 8.3-cent government subsidy. The association has called for immediate measures to address these pricing concerns as the winter season approaches, warning that the current situation suggests a lack of sufficient market oversight.