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Famagusta Gazette

News From Cyprus

Cyprus Government Signals Readiness to Act on Fuel, Consumer Price Hikes

ByFamagusta Gazette

Mar 13, 2026

The government is prepared to intervene if it detects unjustified increases in fuel or consumer product prices attributed to rising global oil costs, its spokesman said.

Government spokesman Konstantinos Letymbiotis was asked whether authorities are considering imposing a cap on gasoline prices, as some other EU member states have done. He said the relevant government team is assessing all available data, noting that any decisions will depend on developments and will be announced at the appropriate time.

Energy Minister Michalis Damianos also said he is ready to step in if fuel price hikes or shortages emerge that are not justified by market conditions.

He added that his ministry is in constant contact with the Finance Ministry to monitor overall price trends and evaluate possible targeted support measures for consumers, should they be deemed necessary.

Famagusta Gazette