Cyprus expects potential minor fuel price reductions

Konstantinos Karagiorgis, Director of the Consumer Protection Service, stated on Wednesday that Cyprus may see modest decreases in fuel prices, particularly for 95 octane petrol. While the service typically avoids forecasting price trends due to the volatility of global markets and geopolitical factors, current international Platts fuel price data indicates a potential downward trend. Karagiorgis noted that these adjustments could manifest as early as Wednesday or Thursday. He emphasized that the agency continues to monitor fuel market developments on a daily basis to ensure consumer protection. Furthermore, he urged the public to compare prices between different fuel stations, noting that significant price variations currently exist across the country. The official confirmed that the sector remains highly sensitive to external energy fluctuations and global supply chain pressures.