There doesn’t seem to be any signs of a halt to the ongoing upward trend of Brent crude oil prices in the international market in recent days, as yesterday the price per barrel for May deliveries surpassed the $90 mark. At present, negotiations are taking place at a price of $91.1, with an increasing tendency.
Today’s prices are at their highest point since January 1, 2024, and also mark a seven-month record. On February 1, the price per barrel had risen to $78.70 and has continued to climb ever since.
Rises in the international market for Brent crude oil hint at further increases in retail fuel prices in Cyprus, following other hikes that have occurred in recent days. Significant increases (over 8.3 cents per litre) have already been recorded due to the removal of the consumption tax reduction.
