Cypriot consumers are on a trajectory of constant burdens, as fuel prices have been rising rapidly in the last almost three months. Despite the small daily fluctuations, the comparison with prices before the start of the war against Iran on February 28, 2026 captures a grim reality for Cypriot households, with the cost of movement and heating having soared to levels reminiscent of the major crises of the past.
According to the latest data from the Observatory of Retail Fuel Prices of the Consumer Protection Service, the formation of average, cheaper and more expensive prices throughout Cyprus shows strong deviations depending on the point of sale:
The average price of unleaded 95 is currently €1,585 per litre. However, the gap between cheaper and more expensive prices remains noticeable, since the lowest price on the market is at €1,484 and the highest reaches €1,649, i.e. there is a variation from the cheapest to the most expensive gas station by 16.5 cents per liter.
The average price of diesel is currently €1,807 per liter. The cheapest option for drivers is €1,699, while at the most expensive stations the price skyrockets to €1,914, with the variation from the cheapest to the most expensive station being 21.5 cents per liter.
Jump up to 44 cents from February!
The real burden on citizens' budgets is highlighted by the comparison of today's prices (22/5/2026) with those of February 27, 2026. In less than three months, the increases are very significant with unleaded showing an increase of 27.1 cents per liter, diesel 39.7 cents per liter and heating oil 44.1 cents per liter.
Therefore, heating oil and diesel have been hit the hardest, with increases reaching or even exceeding 40 cents per liter, making even the basic need for transportation or heating unbearable.
Fuel 27/2/2026 22/5/2026 Change (cents / liter)
Unleaded 95 €1,314 €1,585 27 1
Diesel €1,410 €1,807 39 7
Heating oil €0,949 €1,390 44,1
The trend of May in motor fuels is opposite directions
Focusing on the course of prices over the last fortnight, from May 6 to yesterday, May 22, there are conflicting trends between the two main motor fuels.
In diesel, a significant breather is recorded for professionals and drivers of diesel vehicles, as the price shows a decrease of 8 cents per liter, falling from €1,888 that was on 6/5 to €1,807 today.
On the contrary, the charge continues for drivers of gasoline vehicles. Compared to 6/5, where the price of unleaded 95 was at €1,551, today there is an increase of 3.4 cents per liter reaching €1,585.
Heating oil remains essentially stable with imperceptible fluctuations, without any change in the last 15 days. The average price on 6/5 was €1,385, while today it is at €1,390, i.e. it shows a slight increase of 0.5 cents per liter.
Historical review from 2017 to 2026
Based on the official historical data of the European Commission's Oil Bulletin with taxes, the price fluctuation over time in Cyprus proves that we are going through one of the most expensive periods of the decade.
2017 prices: Fuel prices in Cyprus moved at relatively low and stable levels. The price of unleaded 95 was €1,203/litre, diesel €1,212/litre and heating oil €0,789/litre.
The "crash" of 2020: During the coronavirus pandemic (May 2020), prices had fallen to historic lows, with unleaded 95 and diesel falling to €0.96/litre, and heating oil falling to close to €0.63/litre.
The historical record of 2022: The absolute peak in prices was recorded in the summer of 2022 due to geopolitical developments with the invasion of Ukraine. At that time, diesel had reached an all-time high of €1,973/litre, unleaded 95 €1,812/litre and heating oil €1,511/litre.
The crisis in the Middle East of 2026: Although we have not yet surpassed the absolute negative records of 2022, current prices, especially in diesel which is consistently above €1.80, are a little far from the period of that great crisis. Unleaded is currently at €1,585/litre, diesel €1,808/litre and heating oil €1,390/litre.
