Fuel prices in Cyprus see slight decrease following tax cuts

Fuel prices in Cyprus have experienced a slight decline following a decision by the House of Representatives to reduce the special consumption tax on heating fuels. This measure was implemented with urgency to provide relief ahead of the winter season amid international market uncertainty.

Market inspections indicate that gas stations are gradually complying with the price reductions. Average gasoline prices have dropped to 1.746 euros per liter, while diesel remains slightly above 2 euros per liter. Heating oil has also seen decreases exceeding 6.3 cents.

A representative for gas station owners noted that while prices are adjusting, the overall demand for fuel has dropped significantly as citizens struggle with economic pressures and rising costs of living.