Cyprus fuel prices dive as EU-wide costs rise

Economy cyprusEuropean UnionEurostatfuelTop News Cyprus fuel prices dive as EU-wide costs rise Kaysima 2 Relevant News Cyprus fuel prices dive as EU-wide costs rise 22 August 2026 On this day: Henry Kissinger was named U.S. Secretary of State in 1973 22 August 2026 Mazotos residents go to court over desalination unit 22 August 2026 Theano Thiopoulou 22 August 2026 FacebookXWhatsAppEmailPrintViber Fuel prices in Cyprus fell sharply in July even as prices rose again across the European Union, according to Eurostat data for the month. Diesel prices in Cyprus dropped 7.9% between June and July, while petrol fell 5.4%. The decline is one of the largest monthly drops recorded anywhere in the EU, standing in sharp contrast to the wider bloc. European consumers saw diesel prices rise 4.3% and petrol 4.7% in July compared with June. Cyprus’s fall carries added weight given the trajectory of previous months. In June, diesel prices fell across the EU as a whole, while Cyprus recorded a 0.7% rise in petrol between May and June, one of only two countries, alongside Italy, where petrol prices moved upward that month. By July, the picture had changed drastically, with Cyprus among the countries posting the steepest declines, alongside Sweden and Ireland. Cyprus recorded the EU’s largest monthly diesel fall at 7.9%, ahead of Sweden’s 7.4% and Ireland’s 6.4%. For petrol, Cyprus also posted one of the biggest declines, behind only Sweden’s 11.1% fall. The monthly drop has not brought fuel costs back to last year’s levels. In June 2026, prices for fuel and lubricants for personal transport in Cyprus were 18.6% higher than in June 2025, placing the island among the EU countries with the largest annual increases. Across the EU, annual price growth slowed from 20.7% in May to 13.7% in June, before rising again to 16.9% in July. The gap means fuel costs in Cyprus remain markedly higher than a year ago, continuing to weigh on households and businesses that depend on road transport. Weekly European Commission data track fuel prices across member states, allowing their movement to be monitored on a week-by-week basis. In early August, the average price in Cyprus stood at €1.56 per litre for unleaded 95 petrol and €1.70 for diesel, according to figures based on the European Commission’s Weekly Oil Bulletin. European Commission data dated August 17 show Cyprus among the most competitive in the EU, with the fifth-cheapest 95-octane petrol and the fifth-cheapest diesel price of the 27 member states. Subscribe to our Newsletter Latest News On this day: Henry Kissinger was named U.S. Secretary of State in 1973 Mazotos residents go to court over desalination unit DISY power struggle brews between Demetriou and Neofytou Cyprus operators report near-daily cases of minors faking IDs How Cyprus’s Foreign Ministry got Somalia to correct its slip Paphos domestic violence suspect probed over illegal CCTV, weapons claims Police fear new wave of violence after Ayia Napa attempted murder Follow en.philenews on Google News and be the first to know all the news about Cyprus and the world.