Fuel prices in Cyprus rising despite tax relief measures

On March 26, President Nikos Christodoulides announced a package of eight measures to support the economy, including a reduction in fuel excise taxes by 8.33 cents per liter. This reduction was implemented on April 4 and is scheduled to remain in effect until June 30. Despite this government intervention, retail fuel prices in Cyprus have begun to trend upward again, with variations noted across different districts. According to the Retail Fuel Price Observatory as of May 2, the lowest prices for diesel and unleaded 95/98 gasoline were recorded in Aradippou. Specifically, the lowest prices were 1.785 euros for diesel, 1.458 euros for 95 octane, and 1.528 euros for 98 octane. Conversely, the highest prices recorded reached 1.978 euros for diesel, 1.618 euros for 95 octane, and 1.799 euros for 98 octane, with average prices sitting between these extremes. Local media reports indicate that these fluctuations continue to impact both transportation costs and general economic activity across the country.