The price of a 10kg gas cylinder in Cyprus has surged to €25 in the last few days, triggering concern among households and businesses. According to the latest data from the March 2026 Price Observatory, due to be published in early April, the price has jumped dramatically compared to previous months.
This price hike is stark when compared to the average of €18.74 in February 2026 and €18.13 in January of the same year. In comparison with March 2025, when the price stood at €17.70, the increase is a staggering 41% within just one year.
The Consumer Protection Service is closely monitoring the price trends, noting that the current situation reflects the full dependence of the domestic market on international fuel price fluctuations.
The root of the problem is linked to geopolitical tensions, particularly the ongoing conflict in Iran. These tensions have caused a ripple effect of price hikes in international energy markets, directly impacting the two main components of liquefied petroleum gas (LPG):
- Butane (80% of the mixture): Saw a shocking 77% price increase since the start of January.
- Propane (20% of the mixture): Experienced a 47% rise over the same period.
The gas arriving in Cypriot homes is a mixture of these two hydrocarbons, which are imported as raw materials and subject to fluctuations in international market indices.
Despite these international pressures, Cyprus now boasts modern infrastructure for gas management. The VLPG Plant Ltd, a strategic joint venture between Petrolina, EKO, Intergaz, and Synergas, operates in the Vasiliko Energy and Industrial Area.
Though these companies compete in the market, they collaborate in this shared facility for the import, storage, blending, and bottling of bulk LPG, ensuring the safety and quality of the cylinders.
The VLPG handles about 32,000 tonnes of bulk LPG and 24,000 tonnes of bottled LPG annually, covering the country’s full demand. Despite the economies of scale provided by this state-of-the-art terminal, the high cost of importing raw materials seems inevitably passed on to consumers in the final price.
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