News Local How much will heating oil cost this winter?

How much will heating oil cost this winter?

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)
Month Tons Tons   Tons
1st 11278 11651 3.31 8569 26.46
2nd 7389 9298 25.84 6410 -31.06
3rd 4507 5422 20.75 3626 -33.37
4th 2468 2849 15.44 2300 -19.27
5th 2239 2448 9.33 2131 -12.95
6th 2121 2207 4.05 1910 -13.46
7th 1999 2046 2.35 1884 -7.92
8th 1991 2082 4.57 1868 -10.28
9th 2374 2492 4.97 1987 -20.26
Total 36366 10515 11.41 30685 -24.26

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.


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