Heating oil demand remains low in Cyprus due to high prices

Demand for heating oil in Cyprus remains sluggish as of early November 2026, despite a recent drop in temperatures. Gas station operators report that consumers are hesitant to fill their tanks, primarily due to high fuel costs, which have risen by approximately 60 cents per liter compared to the same period last year.

According to the Price Observatory, the average price for heating oil is currently around €1.589 per liter, with prices ranging between €1.360 and €1.699. Representatives from the gas station association, including Savvas Prokopiou and Christodoulos Christodoulou, note that orders are currently limited to small quantities of 200-300 liters. Many consumers are delaying full tank refills in hopes of government subsidies or are waiting for further temperature decreases and the arrival of their 13th-month salary to cover costs.

The industry is actively lobbying for additional state subsidies to alleviate the burden on households. Meanwhile, Marios Drousiotis, president of the Consumer Association, has highlighted the significant year-on-year price hike, which continues to drive consumer caution across the market.