Heating oil is more expensive now compared to January 2018 prices, the Cyprus Consumer Association found.
Specifically, consumers will pay a total of €153 more to fill a tank 1000 litres today, compared to January 2018. The average price in January 2018 was €0.825 cents and on October 31, 2018 it was €0.978 cents.
|Heating oil sales from fuel stations|
|2016||2017||% (16-17)||2018||% (17-18)|
The Cyprus Consumer Association also said that:
- From October 2018 to March 2019, which is the period with the most heating oil consumption, consumers will pay a total of €7,685,678 more if prices remain at current levels.
- The total amount of oil purchased from the Turkish-occupied north for the period January – September 2018 is calculated at 11,722,874 litres for 95 gasoline and for diesel at 12,022,567 litres.
- Fuel station owners for the same period are estimated to have lost revenue of €1,310,399.
- The State is estimated to have lost revenue (taxes and VAT) of €17,444,499.