Reduced fuel and heating oil prices come into effect today

The excise tax on fuel and heating oil in Cyprus has been reduced by 8.33 and 6.39 cents per litre, respectively, as announced by the government on October 19.

This move aims to alleviate the tax burden on households.

The bill, which swiftly passed into law during an emergency session of the House of Representatives on November 2, will be in effect from November 2023 through February 29, 2024.

The cost to the government is estimated at €21.8 million for fuel and €3.8 million for heating oil.

Current Fuel Prices Across Cyprus
- Unleaded 95: Average price of 1.469 euros, with the cheapest at 1.399 euros and the most expensive at 1.615 euros.
- Unleaded 98 (Amolybde 98 Pancyprian): Average price of 1,554 euros, the cheapest at 1,455 euros, and the most expensive at 1,719 euros.
- Diesel: The average price in Cyprus is 1.633 euros, with the cheapest at 1.569 euros and the most expensive at 1.739 euros.
- Heating oil: The average price in Cyprus is 1.239 euros, the cheapest at 1.177 euros, and the highest at 1.339 euros.

Yesterday's Fuel Price Fluctuations
According to the Consumer Protection Service's retail fuel price data, on November 2, the average price of unleaded petrol 95 in Cyprus was €1,550, with the cheapest at €1,499 and the most expensive at €1,619. Unleaded petrol 98 had an average price of €1,635, the cheapest at €1,535, and the most expensive at €1,738. Diesel had an average price of €1.709, the cheapest at €1.646, and the most expensive at €1.769. In the case of heating oil, the average price was €1.240, the cheapest at €1.177, and the most expensive at €1.331. For detailed prices at all service stations in Cyprus, see here.