Philenews

Price Drop Announced, But Prices Rise

Published March 28, 2026, 17:16
Price Drop Announced, But Prices Rise

An unusual fluctuation in fuel prices was observed the day before yesterday. Specifically, on the same day the President of the Republic announced a reduction in the special consumption tax by 8.3 cents per liter, the largest daily price increase in the last three years was recorded. According to the President of the Cyprus Consumers Association, Marios Drousiotis, the increase was 2 cents per liter for gasoline, 3.5 cents for diesel, and 3.55 cents for heating oil. Mr. Drousiotis expressed fear that the 8.3 cent reduction will have disappeared by the time it is implemented, leaving consumers without substantial benefit.