Cyprus fuel prices remain below European Union average

Data from the European Commission’s Weekly Oil Bulletin, reflecting prices as of August 24, 2026, reveals that fuel prices in Cyprus are lower than the European Union average. Unleaded 95 petrol in Cyprus averaged €1.59 per litre, ranking the country sixth-lowest among the 27 EU member states. Diesel prices averaged €1.83 per litre, notably lower than the EU-wide average of €2.06 per litre.

While consumers in Cyprus often perceive fuel costs as high, these findings contrast with that sentiment. Comparisons show that countries like the Netherlands and Germany face significantly higher prices, reaching over €2.20 per litre for petrol. In contrast, Malta, Poland, and Bulgaria currently report some of the lowest prices within the bloc. The Consumer Protection Service noted that final retail prices are influenced not only by international oil costs but also by product purchase costs and local economic factors, including housing and disposable income.

Despite the relatively favorable regional standing, Cyprus has experienced significant price increases since February 2026, with petrol rising by 27 cents and diesel by 36 cents per litre. However, these increases remain below the EU average hikes of 29 and 44 cents respectively for petrol and diesel.