Consumer Protection Service forecasts minor fuel price decreases

Constantinos Karagiorgis, Director of the Consumer Protection Service, announced that slight decreases in fuel prices are expected in the near future. This forecast is based on recent reductions in Platts prices, which are projected to reflect in retail costs, particularly for diesel. Despite these signs, the service notes continued uncertainty and volatility in the international fuel market. Market instability is attributed to ongoing developments related to the conflict involving Iran, which causes fluctuations in both crude oil and refinery prices. The service continues to process international market data daily to monitor the situation. Officials have committed to closely overseeing the market to prevent any practices detrimental to consumers. Karagiorgis emphasized that while the agency typically avoids making price predictions, current data points toward this immediate downward trend.