Filenews 10 July 2023
Cyprus ranks among the cheapest countries in the European Union and the Eurozone in terms of fuel prices at a time when the discount on fuel consumption tax has ended.
The European Commission publishes every week the newsletter with the average retail prices of petroleum products (oil bulletin) in Europe, which include taxes and duties, and it seems that Cypriots enjoy cheap fuel prices compared to other Europeans.
They are classified in the group of "privileged" in low prices, despite the fact that from July 1 an increase of 8.3 cents in gasoline was imposed after the end of the fuel subsidy, based on a decision of the Council of Ministers.
Prices from the European Commission published last Thursday and have a reference price on July 3 show: The average selling price of 95 octane unleaded petrol in Cyprus amounted to €1,467.96 per liter, a price much lower than the average of the European Union and Eurozone and is the sixth cheapest country, after Bulgaria €1,295.68, Malta €1,340, Romania €1,350.47, Croatia €1,455 and Slovenia €1,448.9.
More specifically, the average 95 octane unleaded petrol in the EU is €1,729.61 and in the Eurozone €1,789.34. The average highest selling price of 95-octane unleaded petrol is in Finland, according to European Commission data, which was €2,027 per litre.
Denmark comes second with €1,884.03 per liter, Greece €1,863, Germany €1,850, France €1,825.98, followed by Italy with an average selling price of €1,846.49 per liter, Estonia with €1,697, Sweden with €1,648.53, Portugal with €1,648 and Latvia with €1,578.17 average selling price per liter.
Regarding diesel, the most expensive country in the EU is Sweden with a selling price of €1,870.19, Finland with €1,926, and then Italy with €1,685.02 per liter. It is followed by France with €1,675.18 and then Belgium with €1,698.04 average selling price per liter, Denmark with €1,614.12 per liter.
In Cyprus the average selling price of diesel is €1,492.55, in the Europe of the "27" the price is €1,568.41 and in the Europe of the "19" €1,597.7. The cheapest country is Malta with €1,210 per litre, Bulgaria with an average selling price of €1,233.82, Czech Republic with €1,373.37, Lithuania with €1,345.97, Romania with €1,347.85, Poland with €1,390.33. In Greece the average selling price of diesel is €1,578.
LNG: 40% of imports from the US
In LNG, Russia's share fell less to 13.2% from 18.1% in the first quarter of 2022.
The US remained the European Union's main supplier, but at a lower rate than in the first quarter of 2022 (40.2% vs. 48.6%).
Significant growth was recorded in Qatar, with a share of 13.1% of total imports (from 10.7% last year) and Algeria with 6.7% (from 4.3%).
Overall, European Union energy imports fell by 3% in quantity compared to last year's first quarter and by 9.2% in value.
