A sharp rise in fuel prices in March has raised concerns among consumers that government subsidies will be absorbed by new increases before they reach households.
Since March 1, the average price of gasoline has climbed 20.9 cents per liter, diesel has risen 35.4 cents and heating oil is up 28.5 cents. The price of a household gas cylinder is also approaching 25 euros.
Marios Drousiotis, head of the Cyprus Consumers Association, said prices could rise another 5 to 8 cents in the next two weeks, effectively offsetting the government’s 8‑cent subsidy. He warned that consumers fear profiteering, though the Commerce Ministry has rejected such claims, saying the increases reflect international market conditions.
Government spokesman Konstantinos Letymbiotis said additional support measures are under consideration depending on how the Middle East crisis evolves.