Fuel prices rise across Cyprus due to regional instability

Fuel prices in Cyprus and the northern territories have risen significantly, driven by ongoing conflicts in the Middle East and international crude oil volatility. In the north, petrol 95 and 98 reached 57.12 and 58.12 Turkish lira, while diesel and kerosene prices also saw sharp increases, sparking protests from business associations. In the Republic of Cyprus, officials from the Consumer Protection Service are monitoring the market as petrol and diesel prices trend upward, with some experts warning of potential 30-40% increases. Consumer advocacy groups are urging the government to reintroduce subsidies to mitigate the burden on citizens, similar to past interventions. Meanwhile, industry representatives report that current price hikes are partially linked to supply chain costs and fears regarding regional security. The government maintains that it is monitoring the situation closely and may intervene if prices exceed certain thresholds to prevent profiteering.