The retail price of 95-octane unleaded petrol in Cyprus fell by 7.2 cents per litre over the 30 days leading up to 12 November. Over the same period, diesel fell by 2 cents and heating oil by 9.6 cents.
Consumer Protection Service Director Constantinos Karageorgis presented the figures on 12 November, citing the Retail Fuel Price Observatory. He said falling international prices were beginning to be reflected at filling stations, although domestic prices remained high.
For a purchase of 50 litres of petrol, the 7.2-cent difference works out at €3.60. This is an illustrative calculation based on the price change and an unchanged quantity of fuel.
For heating oil, the decline also includes the effect of the government’s reduction in excise duty, Mr Karageorgis clarified.
On international markets, the Platts benchmark for 95-octane petrol had fallen by 20.3% as of 11 November. The corresponding reductions for diesel and heating oil were 6.9% and 9.2%. These benchmarks reflect international product prices; the change reaching consumers is recorded separately in retail prices.
