Cyprus Mail
CyprusEnergy

Cost of petrol falls on global oil price drop

CM photo archive

THE selling price of unleaded gasoline – but not diesel fuel – fell by 2 to 2.6 cents per litre, bringing it under €1.25 after several months, state TV reported on Friday.

According to the report, the price of 95 and 98-octane unleaded gas has been lowered by the fuel companies and most gas stations have passed the lower price on to consumers.

The fall is the result of a continuing drop in oil prices internationally, with analysts expecting prices to plateau over the next few months.

The price of Brent oil has tumbled to $46.64 per barrel, which analysts attributed to Wall Street’s failure to hold the price of US crude oil, which trades slightly over $41 per barrel – a six-year low, then in the throes of the Great Recession – with no indication of a short-term recovery.

Among the reasons cited for the tremors felt in the world’s major stock-markets, impacting the price of oil, was news of Greek Premier Alexis Tsipras’ resignation on Thursday night, which many feel may endanger the stability of the European economy.

Related Posts

Ministry says it doesn’t endorse any move to prevent feeding of stray cats

Staff Reporter

Averof Neophytou: A focus on income tax reform

Staff Reporter

Cypriot based tech firm automates investment decisions process

Panis Pieri

Unficyp mandate to be extended for 12 months from now on

Jean Christou

New LPG terminal at Vasiliko a boost for energy hub and a blessing for Larnaca

Jean Christou

Anastasiades meets leaders of Vasiliko communities, says issues being resolved

Jean Christou

15 comments

Comments are closed.