Cyprus gas station owners warn of potential fuel price hikes

On October 27, 2026, the president of the Pancyprian Association of Gas Station Owners, Savvas Prokopiou, warned that fuel prices in Cyprus are likely to increase further. This follows a period of minor price reductions observed locally in the days prior, which the industry now views as potentially temporary due to fluctuating global market conditions.

According to Prokopiou, international oil prices have stabilized at a higher level than in previous weeks, shifting from a range of $100–$102 to $110–$112 per barrel. He stated that if these international levels persist for a few more days, the domestic market will inevitably face new price hikes. The association currently hopes for positive geopolitical developments to ease the pressure and stabilize costs.

Separately, reports from Greece indicate that fuel station owners there are also struggling with market instability and rising operational costs, emphasizing the wider regional impact on small and medium-sized energy enterprises. The industry is currently waiting to see how global oil benchmarks evolve, which will determine the final impact on retail prices in the coming days.