News Local Pump prices up 7.7 cents a litre since January 1

Pump prices up 7.7 cents a litre since January 1

The price of petrol 95 at the pump is up 7.7 cents a litre in the first 11 months of 2019 according to the price observatory  of the Cyprus Consumers Association. Diesel prices are up 5.8 cents a litre and heating fuel 2.1 cents a litre in the same period, it added,.

In November the retail price of petrol 95 rose by 1.6 cent a litre compared to the previous month. Diesel was up 1.3 cent and heating fuel was down 0.8 cent a litre. November’s price increase in petrol and diesel means consumers paid €29,768 more compared to October — €17,261 for petrol and  €12,507 for diesel.

The price of heating fuel was down compared to October. The average price was €835 for 1000 litres on November 1 and €827 for 1000 litres at the end of the month.

Petrol 95 in the EU sold on average for €1.417 a litre with taxes. It cost consumers €1.182 in Cyprus. Diesel was  €1.337 a litre in the EU and €1.252 in Cyprus while heating fuel was €0.805 in the EU and €0.826  in Cyprus.

Excluding taxes, pump prices for petrol 95 in the EU averaged €0.550 a litre and in Cyprus €0.554. Diesel was €0.606 a litre in the EU and €0.642 in Cyprus while heating fuel was €0.554 in the EU and €0.609  in Cyprus.

The Consumers Association said the significant divergence in the price of heating fuel from that in EU is likely due to the fact that there have been no new imports.

“However it is difficult to justify a difference of 5.5 cent per litre. Moreover it is difficult, in the absence of data and information, to justify the difference of 3.6 cent a litre for diesel,” the association said.

 

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