NewsLocalHousehold fuel prices decreasing in Europe, hiking in Cyprus

Household fuel prices decreasing in Europe, hiking in Cyprus

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.



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