Cyprus Consumers Association requests fuel subsidy reinstatement

The Cyprus Consumers Association has officially requested that the Ministry of Finance reinstate fuel subsidies due to significant price increases recorded since March 1, 2026. The association reports that 95-octane gasoline has risen by 10.7 cents per liter, diesel by 16.7 cents, and heating oil by 13.6 cents. Projections indicate that these price hikes are likely to continue for at least the next two weeks. Current fuel prices are being compared to the baseline set on March 7, 2022, when the government initially introduced subsidies. Today's prices stand at approximately 1.422 euros for gasoline, 1.58 euros for diesel, and 1.086 euros for heating oil, alongside an increase in the consumer price index from 107 to 117 units since 2022. The association argues that the state's current fiscal health is robust enough to absorb the cost of a temporary subsidy. A proposed reinstatement would result in a price reduction of 8.3 cents per liter for gasoline and diesel, and 6.2 cents per liter for heating oil. The government has not yet provided a formal response to these demands.