Cyprus recorded its largest single-day fuel price increase in three years on Thursday, with petrol rising by 2 cents per litre, diesel by 3.5 cents and heating oil by 3.55 cents, according to Marios Drousiotis, president of the Cyprus Consumers Association.
Speaking to the Cyprus News Agency, Drousiotis said the increases — which brought total daily rises to 20.3 cents per litre for petrol, 35 cents for diesel and 28 cents for heating oil — were the steepest seen in a single day over the past three years.
LPG prices have also surged, he said, tracking the rise in fuel costs. A 10kg gas cylinder that cost €18.50 before the war has risen to between €24.50 and €25.
On basic necessities, Drousiotis said monitoring of prices in the e-basket had shown small increases of between 0.5% and 1.5%, but these were not believed to be connected to the Middle East war. Further increases in essential goods were possible in May, he added.
The sharp rise comes after the President announced a reduction in excise duty on motor fuels, to take effect from 1 April. Drousiotis said the cut would reduce the price by 8.3 cents per litre from whatever level prices have reached by that date. The reduction on heating oil will be 6.2 cents per litre.
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