During the past week, fuel prices have decreased.
There is a reduced excise duty rate in effect until February 2024 for motor fuels and until March for heating oil.
With the implementation of this measure, consumers benefit from a reduction of 8.33 cents per liter in the prices of unleaded gasoline and diesel, and a reduction of 6.33 cents per liter in the excise duty for heating oil.
The weekly EUR Bulletin oil report with reference prices as of January 8, 2024, was announced last Thursday, and from the price comparisons one week earlier (January 1), it appears that in Cyprus, albeit marginally, prices have decreased, while the average prices in the EU-19 have increased.
The price of unleaded gasoline 95 octane was €1,339.69, compared to the average price of €1,343.07 one week earlier (January 1), showing a decrease of 0.29%. The average price of diesel with the reference date of January 8 was €1,455.9, compared to €1,462.31 one week earlier, indicating a decrease of 0.47%.
The price of heating oil in the latest measurement according to the European price bulletin was €1,072.44, compared to €1,077.79 (January 1), recording a decrease of 0.46%.
The average price of unleaded gasoline in the EU-19 with the reference date of January 8 was €1,728.96, compared to €1,721.64 one week earlier, showing an increase of 0.40%.
The average selling price of diesel is €1,665.72, compared to €1,666.12, recording a minimal decrease of 0.060%.
The average price of heating oil in the EU-19 was €1,126.29, compared to €1,118.29, showing an increase of 0.71%.
From the analysis of the prices in the European bulletin, Cyprus is the second cheapest country in the Eurozone in the selling price of unleaded gasoline 95 octane.
The cheapest country is Malta with an average selling price of €1,340.
In the European area, the most expensive selling prices of unleaded gasoline are noted in Denmark at €1,937.95, the Netherlands at €1,904, Greece at €1,824, France at €1,806.12, Germany at €1,801, Finland at €1,713, Italy at €1,773.66, and Portugal at €1,644.