There have been small but steady increases in the retail price of petrol, diesel and heating fuel in March, the Cyprus Consumers Association said on Tuesday.
It said that according to the price observatory, 95 octane petrol saw a price increase at the pump of 0.043 cent compared to February. The price of diesel rose by 0.018 cent per litre and that of heating fuel by 0.004 cent.
However since mid January when prices were at their lowest to the end of March, pump prices for 95 octane petrol are up 10.3 cent those of diesel by 7.7 cent and those of heating fuel by 8.4 cent, it said.
As a result of the increase in petrol and diesel pump prices consumers paid an additional €61,303 in March compared to February of which €46,035 for petrol and €15,268 for diesel.
The Cyprus Consumers Association said there was little fluctuation in the heating fuel prices in March, starting off the month at €828 for 1000 litres and ending the month at €832.
In March 2019, the average retail price for 95 octane petrol in the EU including taxes was €1.380 per litre and in Cyprus €1.157. Diesel in the EU cost €1.349 a litre and in Cyprus €1.240. Heating fuel in the EU was €0.86 — the same as in Cyprus.
Without taxes, the average retail price of 95 octane petrol in the EU was €0.519 a litre and in Cyprus €0.532. Diesel without tax in the EU was €0.614 a litre and in Cyprus €0.631. In the EU heating fuel averaged €0.57 and in Cyprus €0.609.
“In general we observe that average prices without tax of basic petroleum products in Cyprus are higher than the average prices in the EU, with the most noticeable difference that of heating fuel,” the Consumers Association said,.
Comparing price increases in Cyprus and the EU before tax in March, the association said that for petrol prices had risen by €0.29 in Cyprus and €0.22 in the EU, for diesel by €0.008 in Cyprus and €0.003 in the EU and for heating fuel by €0.001 in Cyprus while in the EU prices fell by €0.007.
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https://in-cyprus.com/pump-prices-increase-in-prices-not-profiteering-says-ministry/
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