Nicosia, Cyprus. Retail fuel prices in Cyprus are expected to fall further in the coming days following a series of reductions over the past month, according to Consumer Protection Service director Constantinos Karagiorgis. He said the downward trend was linked to lower refinery prices now being reflected in fuel shipments arriving in Cyprus.
Recent price reductions
Karagiorgis told the Cyprus News Agency that retail prices had been moving downwards over the past month. Diesel fell by an average of 13.5 cents per litre, while unleaded 95 petrol dropped by 2.4 cents per litre.
He said current data indicated that retail fuel prices would see significant additional reductions in the coming days.
Uncertainty over future developments
Karagiorgis said the outlook remained uncertain, particularly because of renewed threats concerning the possible closure of the Strait of Hormuz.
He said there was still uncertainty in the environment and that the situation had not stabilised. He added that the current retail fuel price scenario reflected only present conditions and not future developments.
Price differences between petrol stations
Karagiorgis also pointed to wide differences in prices between individual petrol stations and urged consumers to compare prices before filling up.
He said the difference between the cheapest and most expensive price for unleaded 95 petrol was 17 cents per litre, while the gap for diesel reached 23 cents per litre.
Average petrol price
According to service data for June 11, the average price of unleaded 95 petrol across Cyprus stood at €1.586 per litre. The cheapest price was €1.525 per litre and the most expensive was €1.699 per litre.