Petrol prices in Cyprus have risen 16.80% since the Middle East war began, with the average price of unleaded fuel climbing from €1.31 to €1.53 per litre, according to the European Commission’s Weekly Oil Bulletin.
The figures, which compare prices on February 23 and April 20, 2026, show Cyprus among the steeper risers in the EU. The bloc’s average price for Euro-super 95 petrol rose 12% over the same period, from €1.64 to €1.83 per litre.
Brent crude returned to around $107 per barrel on Monday as markets grew less optimistic about prospects for a peace settlement.
A ceasefire announced on April 8 has halted most US-Israeli strikes on Iran and Iranian retaliation against neighbouring countries, but markets remain focused on the Strait of Hormuz, through which almost no oil and gas tankers are currently passing.
Average petrol and diesel prices remain significantly higher than before the conflict, despite some easing after the ceasefire, the source said.
How Cyprus compares
Among EU member states tracked in the same period, Latvia recorded the steepest rise at 16.99%, followed by Lithuania at 17.12% and Luxembourg at 20.54%.
Cyprus’s 16.80% increase was broadly in line with Croatia (16.32%), Slovenia (16.19%), Greece (16.01%) and Germany (15.92%).
Denmark rose 14.43%, Finland 14.61%, Slovakia 14.96% and Portugal 12.42%. The Netherlands recorded a 10.67% increase, while Italy saw the smallest rise among the countries surveyed at 6.66%.
Spain increased by just 3.40%, and Malta held its price steady at €1.34 per litre. Belgium rose from €1.50 to €1.83, and Austria from €1.51 to €1.69.
Relief measures
Several EU governments have introduced temporary tax relief to cushion consumers. Cyprus has cut the excise duty on road fuel by 8.33 cents per litre for April through June 2026.
Italy temporarily reduced excise duty by €0.25 per litre on petrol and €0.19 per kilogram on LPG. Austria cut its fuel tax by five cents per litre, Spain reduced VAT on fuel from 21% to 10%, and Portugal also introduced temporary fuel tax reductions.