Newsroom / CNA
Fuel prices in Cyprus began rising Wednesday, marking the first increases since the recent escalation of tensions between Iran and Israel, the head of the Cyprus Fuel Station Owners’ Association said.
Two fuel importing companies raised their prices on Wednesday, and others are expected to follow suit within days, association president Savvas Prokopiou told the Cyprus News Agency.
He said the increases follow a sharp rise in international oil prices triggered by Israel’s attack on Iran.
“We expect the remaining importers to proceed with their own price increases today or tomorrow,” Prokopiou said. “I believe there will be a slight further increase, but I hope it stops there, as we’re now seeing some stabilization in international oil prices, around $72 to $73 per barrel.”
Fuel price changes in Cyprus are overseen by the Ministry of Energy in cooperation with importing companies, he added.
Prokopiou also noted that a green tax on fuels is expected to take effect by the end of June. However, he urged the government to reconsider the timing of the tax’s implementation.
“Given the current situation in the region, we hope the government will postpone the introduction of this tax,” he said.
