Newsroom
Filling up in Cyprus is getting a little cheaper. How much you save depends on what you drive.
Over the past 30 days, the retail price of 95-octane unleaded petrol fell by 7.2 cents a liter, while diesel dropped by just 2 cents, according to the government’s fuel price monitor. Heating oil recorded the biggest drop of the three, at 9.6 cents a liter.
For a household ordering 500 liters of heating oil, that works out to about €48 less than a month ago. Part of that saving comes from a government cut in the excise duty on heating oil, said Constantinos Karageorgis, director of the Consumer Protection Service.
Karageorgis told the Cyprus News Agency that lower international fuel prices are gradually reaching consumers in Cyprus, where retail prices remain high. International benchmark prices had retreated from their September and October highs. By Nov. 11, the Platts benchmark for 95-octane petrol had fallen 20.3%, while the benchmarks for diesel and heating oil were down 6.9% and 9.2%, respectively.
Those benchmark figures track international markets. For drivers budgeting for the next fill-up, the local price monitor puts the change in euros and cents. A driver buying 50 liters of petrol a week would save about €14 over four fill-ups if prices hold at their current levels.
Karageorgis said the Consumer Protection Service will continue tracking both international and local prices to see how changes overseas are reflected at the pump in Cyprus.
