Cyprus extends fuel tax cuts until November 30

On September 10, 2026, the Cabinet of Ministers of the Republic of Cyprus approved the extension of the reduced excise duty on gasoline and diesel fuel. Finance Minister Makis Keravnos announced that the reduction of 8.33 cents per liter will remain in effect until November 30, 2026. This measure is intended to support households and businesses amidst ongoing geopolitical instability and rising energy costs.

Minister Keravnos clarified that no further reductions are currently under consideration, noting that Cyprus already maintains the second-lowest fuel prices in the European Union, after Bulgaria. The government has been utilizing this fiscal intervention since April 4, 2026, following the escalation of the conflict between the United States, Israel, and Iran that began in late February. The tax reduction has been extended three times to date to mitigate price fluctuations, which saw gasoline prices at approximately 1.59 euros per liter three days prior to the latest announcement. The government maintains that these measures reflect a consistent political commitment to economic stability during periods of international market volatility.