Fuel prices in Cyprus reach record highs amid public outcry

Fuel prices in Cyprus have surged significantly since February 2026, with average costs for 95-octane petrol reaching €1.757 and diesel hitting an average of €2.022 per litre by early October. In a record development, diesel prices touched an all-time high of €2.126 at a station in Limassol. Despite a government excise duty reduction of 8.33 cents per litre, consumers are paying substantially more than they were in February, when the average price of 95-octane petrol was €1.31 per litre. The Cyprus Consumers’ Association has alleged that many petrol stations failed to fully pass the tax reduction on to the public, a claim dismissed by the Petrol Station Owners Association.

The Fiscal Council attributes the price hikes to a combination of international oil trends and domestic refining, transport, and distribution costs, which contributed more to the annual increase than crude oil prices themselves. While the Consumer Protection Service maintains that prices are consistent with broader European trends, local motorists are expressing significant financial strain, leading to reports of increased cross-border fuel purchases in the north. Authorities continue to monitor market data through the Price Observatory, but no immediate further policy changes have been announced to curb the ongoing upward trend.