The average price of unleaded 95 petrol on Monday rose to €1.378 per liter in Cyprus as gas costs worldwide are on a record high.
The latest price marked an increase of up to six cents per liter within a month. And compared with the corresponding period last year the price increased by 30 cents per liter in Cyprus.
The price of crude oil rose from $92 a barrel to over $100 and it is inevitable that these increases will soon also reach gas stations in Cyprus.
In fact, the island’s Consumers Association is warning of an increase that will reach 10 cents per liter within a month.
At the same time, the price of oil is also on the rise with diesel now costing €1.456 per liter compared to €1.100 the same period last year.
As for the general consumer index, it recorded a 0.5 per cent decrease for January compared to December 2021 but inflation rose 5.4 per cent year-on-year.