Heating oil tank costs in Cyprus rise by almost €500 since March
The consumers association has called for scrutiny of fuel pricing after heating oil, petrol and diesel prices increased sharply in Cyprus.
Nicosia, Cyprus. The cost of filling a 1,000-litre heating oil tank has risen by almost €500 since March, according to the consumers association, which has raised concerns over the monitoring of retail fuel prices.
The association said international energy costs had increased amid turmoil in the Middle East but questioned whether this fully accounted for the rises passed on to households and motorists.
Heating oil increase
Association president Marios Drousiotis told the Cyprus News Agency on Thursday that the figures provided “strong indications that something is wrong with fuel prices in Cyprus”.
He called on the authorities to provide evidence that the price increases were justified.
According to the association, heating oil rose from €0.950 per litre on March 1 to €1.438 per litre on August 13, an increase of 48.8 cents, or nearly 51 per cent.
For a household purchasing 1,000 litres, the increase amounts to €488. Drousiotis said the issue was becoming more pressing as consumers prepared for colder months and began filling heating oil tanks ahead of winter.
Petrol and diesel prices
The association said the price of 95-octane petrol increased from €1.315 to €1.595 per litre over the same period, while diesel rose from €1.413 to €1.796 per litre.
Based on its calculations, this represented an increase of about 21 per cent for petrol and 26 per cent for diesel.
Drousiotis said the increases were recorded despite the government’s 8.3-cent subsidy and would have been higher without it.
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