The average price of fuel in Cyprus has increased by 4.5 cents per litre for petrol, 1.3 cents per litre for diesel, and 0.4 cents per litre for heating oil following the termination of the government’s reduced tax measure. Gasoline prices had already increased by 8.3 cents per litre before the tax measure was lifted.
– Petrol stations were packed as motorists rushed to fill up their tanks before the reduced tax measure ends on April 1.
– More price hikes are expected soon due to increasing fuel prices on the international market.
– Prices have already gone up 2 to 3 cents, varying across different companies.
– The subsidy on fuel consumption tax will end on Monday, resulting in an 8.3 cent hike per litre on petrol and diesel and 6.4 cents on heating oil.