Economy

Government Cuts Fuel Taxes Amid Price Surge

OLOI TEAM

The Government has announced plans to help with rising fuel prices. They will cut the special consumption tax for a short time.

This reduction starts on April 1st and lasts until June. It means a price drop of 8.33 cents per liter for both gasoline and diesel.

This decision comes after big international price hikes, with Platts prices up by 83% for fuels. Brent crude oil is also close to $100 per barrel.

Recent data shows that consumers have faced a heavy burden over the last month. This measure aims to lower costs and stabilize the market.

Even with the reduction, prices are still high, especially for diesel, which is more expensive than in previous years.

Nicosia and Larnaca intensify inspections against illegal passenger transport

Cyprus issues strict warning over illegal import and distribution of medicines

Amalthea plan: new 900-ton humanitarian aid shipment departs from Cyprus to Gaza

Neonatal intensive care upgrade and support for premature infants’ families discussed with Health Minister

Limassol authorities investigate shooting incident at central restaurant