Fuel prices hit record highs in Cyprus despite tax reduction measures

Fuel prices in Cyprus have reached historic highs, with diesel hitting a record of €2.126 per liter in Limassol as of October 7, 2026. The average price for diesel currently stands at €2.024 per liter, while unleaded 95-octane petrol averages €1.752 per liter. These increases persist despite a government policy that reduces excise duty by 8.33 cents per liter. Compared to February, when the measure was not in effect, unleaded petrol prices have risen by approximately 43 cents, and diesel has surged by 60 cents.

While the Consumer Protection Service, represented by Konstantinos Karageorgis and Andreas Christou, asserts that current prices are justified by international market trends, the Cyprus Consumers’ Association disputes this. Association president Marios Drousiotis reported that 19 petrol stations failed to pass on the full tax cut, and 97 others reduced prices by less than the required amount. Public frustration is rising as consumers face increased costs, with some motorists turning to fuel stations in the occupied areas to mitigate expenses. Although local petrol station staff observe a slight decline in daily fuel sales, there has been no major change in consumer purchasing behavior to date.