Cyprus Mail
Cyprus

Petrol stations drop fuel prices across board

The overwhelming majority of petrol stations – 97 per cent – reduced their prices as expected on Tuesday following parliament’s decision last Wednesday.

According to the consumer protection service, there was an average 6.6 cents per litre reduction on the price of regular petrol, 7.1 cents on 98-octane petrol, seven cents on diesel, 7.4 cents on heating fuel, and 7.5 cents on kerosene.

Last week, parliament voted to cut fuel taxes by six cents, including VAT, although it took stations some time on Tuesday to reach the expected levels.

The consumer tax on petrol is now down to 42.9 cents per litre from 47.9 cents, diesel from 45 to 40 cents, and heating fuel from 12.47 cents to 7.4.

“At 6.45am the average drop in prices per litre was 4.3 cents for petrol, 4.6 cents for diesel and 5.1 cents for heating fuel,” head of the consumer association Marios Droushiotis said.

At 7.30am this news was widely broadcast on radio, and by 8.45am, when the consumers association checked prices again, the situation had changed.

“Nearly all the results are in, and now all of them, petrol, diesel and heating fuel have reached six cents. The situation has changed dramatically for the better,” Droushiotis announced.

Although the bill was unanimously approved last week, most MPs, apart from those belonging to Diko and Disy, expressed reservations how far the measure would positively impact vulnerable groups, something which was the main purpose of the decision.