Fuel prices in Cyprus are rising for yet another week as the conflict in the Middle East continues to unsettle global energy markets, industry officials have said.
Christodoulos Christodoulou, spokesman for the Petrol Station Owners Association, told state broadcaster RIK that companies are now adjusting pump prices every two to three days, creating what he described as an “unstable and constantly shifting” environment.
He urged the government to consider support measures, adding that any subsidy “must be substantial” to offer real relief to consumers.
Analysts say the volatility is tied in part to heightened tensions around the Strait of Hormuz — the narrow chokepoint at the mouth of the Persian Gulf through which a significant share of the world’s crude oil passes.
Even minor disruptions or threats to shipping there can trigger immediate price spikes, leaving import‑dependent countries like Cyprus exposed.