Heating fuel in Cyprus rises to a record €1.556 per litre

Fuel prices in Cyprus continue to rise: heating fuel has increased to €1.556 per litre, setting a new all-time record that had stood since July 2022.

As of 17 September, a litre of 95-octane petrol costs €1.663, while diesel costs €1.925. Since 1 March, petrol has risen by €0.348, diesel by €0.514 and heating fuel by €0.606. The previous record for heating fuel — €1.515 per litre in July 2022 — has been exceeded by 4 cents.

Savvas Prokopiou, chairman of the Association of Petrol Station Owners, believes that a reduction in excise duty alone is not enough and that the government needs targeted measures. He proposes automatically reducing the tax when the price exceeds a certain threshold and expects fuel prices to rise by a further 1–2 cents in the coming weeks.

Dinos Lefkaritis, CEO of Petroline, notes that fuel in Cyprus is still cheaper than in a number of European countries, where petrol already costs more than €2 per litre, while retailers’ margins are “extremely low”. According to him, since the refinery closed in 2004, the island has imported finished petroleum products rather than crude oil.

Marios Drousiotis, chairman of the Cyprus Consumers Association, is calling for heating fuel to be subsidised. He notes that the subsidy in effect in April 2026 did not reach consumers in full: 19 petrol stations did not cut their prices at all, while another 97 reduced them by less than the required €0.0833 per litre.