Consumers in Cyprus will breathe a sigh of relief

At petrol stations in the Republic of Cyprus, a noticeable drop in fuel prices is expected, offering motorists a long-awaited financial respite. According to preliminary forecasts by consumer associations, the cost of petrol and diesel at local filling stations should fall significantly in the coming days amid a decline in global oil prices.
However, civic organizations and business representatives stress that this decrease may not be enough to stabilize the market in the long term. For this reason, there are active calls to Finance Minister Makis Keravnos to extend the reduced fuel consumption tax. The current measure is set to expire, and its removal could completely erase the positive effect of the market-driven price decline.
Consumer advocates note that preserving tax relief during the summer period is crucial for maintaining households' purchasing power and preventing a new wave of inflation, which will inevitably affect the cost of other goods and services. The Ministry of Finance is expected to consider the issue and make a decision soon, weighing the balance between budget revenues and the burden on citizens.