Petrol stations are set to reduce the price of fuel in the upcoming days, according to the president of the Cyprus Consumers’ Association Marios Drousiotis.

In statements made to the media on Wednesday, Drousiotis said that, following the example of a company reducing the price of fuel per litre by €0.04 on Tuesday, others will likely follow suit.

However, he said he does not foresee a reduction in the price of heating oil in the short term.

Last week, the average price of unleaded 95 petrol was €1.50 per litre with the cheapest station selling at €1.42 and the most expensive at €1.56.

Meanwhile, the average price of heating oil was €1.41 per litre, with the cheapest station selling at €1.36 and the most expensive at €1.56 a litre.