Sharp surge in fuel and LPG prices in Cyprus reported on March 26, 2026

On Thursday, March 26, 2026, Cyprus experienced the largest single-day increase in fuel prices in three years. According to Marios Drousiotis, President of the Cyprus Consumers Association, prices rose to 20.3 cents per liter for gasoline, 35 cents for diesel, and 28 cents for heating oil. Additionally, the price of a 10kg LPG cylinder has climbed to between €24.50 and €25, representing a 41% increase compared to March 2025. Authorities attribute these hikes to international market fluctuations caused by geopolitical tensions in Iran, affecting butane and propane costs. The Consumer Protection Service is monitoring the situation, noting the market's dependence on global energy indices. In response to the crisis, the President of the Republic announced a reduction in excise taxes on motor fuels starting April 1, set at 8.3 cents per liter for motor fuel and 6.2 cents for heating oil. While some basic goods saw minor price increases of 0.5% to 1.5%, officials do not currently link this to the Middle East conflict, though further price pressures may emerge in May.