Filenews 5 May 2022
In recent months, whenever we put fuel in our vehicles, we may pay more for the same amount, which burdens family and corporate budgets, but European data show that there are also (much) worse in EU countries, as Cyprus is one of the cheapest among the Member States of the European Union (EU) in gasoline and diesel prices.
According to the latest bulletin of the European Commission (EU Bulleting, dated 25/4/2022), which is cited by government sources, our country is in the sixth place with the lowest prices (including taxes) on unleaded 95-octane gasoline. Also, Cyprus is in the 9th place with the lowest prices for diesel and in the 7th place with the cheapest prices on heating oil.
In detail, according to European data, the cheapest country in unleaded 95-octane gasoline is Hungary, followed by Malta, Poland, Bulgaria, Slovenia and Cyprus. For example, in Hungary the 1000 litres of unleaded 95 last month had cost €1282.81, while in Cyprus the corresponding amount was €1507.59.
On the other hand, the most expensive five countries that sell the 95 octane unleaded are Finland (for every 1000 litres the cost was €2174), the Netherlands, Denmark, Greece (€2074 selling price) and Germany. They are followed by Hungary, Slovenia, Bulgaria, Poland, Slovakia, Lithuania and Romania.
Cyprus, at the end of last month, was in 9th place among the countries that sell diesel at lower prices. For example in our country for every 1000 litres the cost was €1736.09. The five countries with the highest diesel prices were Sweden (€2407.71 per 1000 litres), Finland, Germany, Denmark and the Netherlands.
Regarding the prices of heating oil, Malta was in 1st place with the lowest prices (€1000 per 1000 litres). The five with the lowest prices are completed by Croatia, Lithuania, Belgium and Romania. Cyprus was among the seven EU countries with the lowest prices (€1256.46 per 1000 litres of heating oil). The highest prices were in Denmark (€2078.07 per 1000 litres), the Netherlands, Italy, Portugal and Finland.
Meanwhile, government agencies, after analyses and comparisons, argue that in the last two months the growth of fuel in Cyprus is smoother than in the other EU member states. At the same time that in Europe prices began to de-escalate, in Cyprus the de-escalation is expected gradually in the coming period, due to the deferrality in the change of fuel prices in Cyprus in relation to Europe. For example, on 28 February and 14 March in the other Member States the price of diesel rose by around 40%. In the EU last February diesel was €0.887 cents/litre and in March €1.241 cents/litre. On the other hand, in Cyprus the price increase was 15.4%. That is, last February the selling prices of diesel were €0.835 cents/litre, while in March € 0.964 cents / litre.
