Lefkara, Cyprus. President Nikos Christodoulides said he will address the public on Thursday with specific measures to tackle rising energy costs as the government prepares further interventions to support households and businesses.
Government preparations and consultations
Speaking to journalists in Lefkara, Christodoulides said the government has been holding a series of meetings to shape its response to the energy crisis, including consultations with the finance ministry. He said measures exceeding 100 million euros that the government has taken are already underway, aimed at mitigating the impact of rising prices.
Expected focus of upcoming measures
Christodoulides did not provide details on the content or structure of the upcoming measures but said preparations are at an advanced stage. The government is expected to outline targeted actions aimed at limiting the burden on consumers while maintaining fiscal stability.
Fuel price volatility and market developments
The planned announcement comes as fuel prices show signs of continued volatility, with industry representatives warning of further increases linked to developments in the Middle East. Petrol stations association head Savvas Prokopiou has said consumers should expect fluctuations, with the overall trend remaining upward.
Oil prices and recent movements
Prokopiou said a more stable outlook could emerge if crude oil remains below $100 per barrel. Brent crude was trading at around $103 per barrel on Tuesday, having surged from approximately $65 in recent weeks following the escalation of the US-Israel conflict with Iran.
What measures do you expect the government to announce to help households and businesses manage rising energy costs?
