Newsroom
Drivers in Cyprus could soon see some relief at the pump, with fuel prices expected to fall within the next 10 days following a recent drop in international oil prices, according to the head of the Pancyprian Association of Gas Station Owners.
Savvas Prokopiou said global oil prices have recently fallen significantly, by around $10 to $15 per barrel, and that this trend is likely to gradually be reflected in Cyprus.
Speaking to the Cyprus News Agency (CNA), he noted that fuel prices on the island typically react with a delay of about 10 to 15 days, whether prices are rising or falling internationally.
He explained that in recent weeks there have been small fluctuations in both directions, with oil prices slightly dropping one week and rising the next, but the overall recent trend has been downward.
“I believe we will see some reductions in Cyprus in the next 10 days,” he said, adding that even though there have been some recent increases internationally, the broader movement still points towards lower prices.
However, he cautioned that the market remains unstable, with ongoing uncertainty affecting short-term predictions.
“One day there is optimism, the next day it disappears,” he said, stressing that while experience suggests prices should ease, volatility in global markets means nothing is guaranteed.
Still, based on current trends, he said reductions at the pump remain the most likely scenario in the coming days.
