Consumers see no benefit as petrol and diesel prices fall

The price of petrol fell by 44 cents per litre on January 8 from its historic high of €1.8 per litre recorded in July, according to the Cyprus Consumers Association.

The price of diesel also fell by 40 cents per litre, as well as the price of heating oil, down by 35 cents per litre.

However, according to the association, “despite the significant reductions in the price of petrol, diesel and heating oil, there was no reduction in the retail prices of the products.”

In the past week, the price of petrol increased by seven cents per litre, the price of diesel increased by 11.99 cents per litre and the price of heating oil increased by 24.57 cents per litre.

Compared to the corresponding period last year, the price of petrol increased by 31.6 cents per litre, the price of diesel increased by 48.8 cents per litre and the price of heating oil increased by 51.1 cents per litre.

In addition to that, the Cyprus Consumers Association added that significant price increases – compared to last month – were registered in the price of lamb and goat meat, garden equipment, food processing appliances, sugar, olive oil, cocoa, and powdered chocolate.

At the same time, fresh vegetables and fruit, flour and other cereals showed significant price decreases compared to December 2021.