Cyprus Mail
Business Cyprus

‘Fuel prices increased dramatically between January and May’

The price of fuel increased considerably between mid-January and the end of May, the Cyprus Consumers Association announced on Monday.

In less than five months the price for 95 petrol increased by 16.9 cents a litre, that of heating oil by 10.9 cents a litre and the price of diesel by 10.6 cents per litre, the association said.

Consumers paid €36,945 more in May than in April in total for petrol and diesel, €15,997 for 95 octane petrol and €20,948 for diesel.

Compared to January, the price increase meant they paid €209,602 more in May in total, €144,084 for gasoline 95 and €65,518 for diesel.

The association also compared fuel prices with those in the European Union.

“In May 2019, the average retail price of 95 gasoline with taxes was €1.487 per litre in the European Union, and in Cyprus it was €1.245 cents while EU fuel oil was €1.379 cents a litre and in Cyprus it was €1.268 cents.”

Heating oil in the EU was €0.843 cents on average and in Cyprus €0.847 cents.

“The average retail price of gasoline 95 in the EU, excluding taxes, was €0.610 cents a litre, and €0.607 cents in Cyprus, EU diesel was €0.640 cents a litre and €0.665 cents in Cyprus, while the price for heating oil in the EU was €0.591 cents and €0.627 cents in Cyprus.”


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