Newsroom
Consumers in Nicosia are facing large price differences at fuel stations, with some paying up to 308 euros more for heating oil than others. This price gap is raising questions about unfair competition in the market, as the difference between the cheapest and most expensive stations can be as high as 30 cents per liter for heating oil and 23 cents for regular fuel.
Marios Droussiotis, President of the Cyprus Consumers Association, explained that while petrol stations usually make a small profit margin of 6 to 6.5 cents per liter, the large price differences suggest something isn’t right. The issue, he believes, lies not with the stations themselves but with oil-importing companies, which may be influencing the prices at different stations.
For example, if you fill up a 1,000-liter tank at the most expensive station in Nicosia, you could end up paying 308 euros more than if you bought it at the cheapest one. This creates unfair competition, especially when prices vary so much within the same city.
In other parts of Cyprus, like Famagusta, the price difference is much smaller, pointing to an imbalance in the market. While the government has admitted weaknesses in the fuel price monitoring system, efforts are underway to improve it, including using AI to track prices better.
For consumers, this situation means it’s hard to know if they’re paying a fair price, and it could lead to people spending more than they should.
