Cyprus Consumers Association reports significant fuel price disparities and rising costs

A new study by the Cyprus Consumers Association has identified significant variations in fuel pricing policies across different districts between 2023 and 2026. The report highlights that Paphos consistently recorded the highest average prices for 95-octane petrol, diesel, and heating oil, while Nicosia generally maintained the lowest averages. The investigation underscores concerns regarding the regional disparity in retail price formation and calls for further official scrutiny.

Between March 1, 2026, coinciding with the outbreak of the latest conflict in the Middle East, and September 8, 2026, fuel prices saw a sharp increase. Specifically, 95-octane petrol rose by 31.6 cents per litre, diesel by 47.7 cents, and heating oil by 56.2 cents per litre. The Association estimates that these price hikes imposed an additional financial burden of approximately €23 million on consumers during this six-month period, including over €4.35 million in additional VAT. The organization, led by Marios Drousiotis, concluded that these findings provide clear evidence warranting a more detailed investigation into how retail fuel prices are determined in the domestic market.