Fuel prices rise in Cyprus amid regional tensions and supply concerns

Fuel prices in Cyprus have increased by 2.6 to 4.7 cents per litre over the past 10 days due to a global surge in crude oil prices, which reached between $115 and $119.50 per barrel. Refinery prices have risen by as much as 55 per cent, according to local authorities, with further retail increases expected. While concerns exist regarding the regional conflict involving Iran, Finance Minister Makis Keravnos and tourism officials have stated that Cyprus remains safe and secure for travellers. Connectivity with Europe has been restored as Hermes Airports reported the resumption of several previously suspended flight routes. Hoteliers are currently monitoring the situation as they prepare for the spring season, including Catholic and Orthodox Easter. Authorities maintain that the country's economic fundamentals remain sound and resilient despite external market pressures.