Reductions in fuel prices are expected in Cyprus in the next 10 days, due to the drop recorded in the previous period in international oil prices, according to the President of the Pancyprian Association of Gas Station Owners, Savvas Prokopiou.
In his statements to KYPE, Mr. Prokopiou stated that there have been ups and downs in prices lately, noting that last week the price of oil decreased slightly, while the price of gasoline increased slightly.
As he explained, in the previous period there was a sharp decrease in the international price of oil, which fluctuated around 10 to 15 dollars. However, these changes are usually reflected in the Cypriot market with a delay of 10 to 15 days, as is the case in cases of increases.
"I believe we will see some reductions in prices in Cyprus in the next 10 days, despite the fact that in the last few days we have had increases in international oil prices," said the President of the Pancyprian Association of Gas Station Owners.
Mr. Prokopiou noted, however, that there are still imponderables, as the international picture remains volatile. As he said, "one day, the situation creates some hopes and the next day those hopes are lost."
Concluding, he said that, based on the experience of gas station owners, it is reasonable to expect some reductions in fuel prices in the next 10 days, although the situation remains unsettled.
