Even though prices at gas station pumps on Tuesday were on the decrease in EU countries – including Greece – the case is different in Cyprus, Philenews reported on Wednesday.
In Cyprus, prices were increased by 15 cent per litre and -with last Wednesday’s oil price rise by an additional 12 cent – then the total hike at the pump is 27 cent per litre. As for gas, the price increase within a week was 4 cent.
And all this despite the fact that EU finance ministers have agreed to subsidise household fuel prices and offer support to companies hit by surging energy prices as a result of Russia’s invasion of Ukraine.
Tuesday’s fuel price hike in Cyprus was essentially the second major one within a week, despite the fact that prices worldwide are falling.
Specifically, the price of Brent barrel fell to $100 a barrel from $140 on Net on Monday, showing a dip of 28.6%. In fact, international prices have returned to pre-Russian invasion levels.