Cyprus fuel prices jump 24.6 per cent in September as Keravnos urges caution

Cyprus petrol prices record smallest monthly rise in EUFuel prices in Cyprus rose by 24.6 per cent year-on-year in September, accelerating from 19.1 per cent in August, according to Eurostat figures published on Wednesday, as Finance Minister Makis Keravnos warned that the government was focused on containing costs rather than achieving major price reductions. The increase in the prices of fuels and lubricants for personal transport in Cyprus was below the European Union average of 31.4 per cent, but still reflected the continuing pressure on motorists as energy costs climbed across the bloc. On a monthly basis, petrol prices in Cyprus rose by 3.8 per cent between August and September, the smallest increase recorded among EU member states. The rise compared with an EU-wide increase of 6.7 per cent over the same period, while diesel prices across the bloc increased by 5.9 per cent. The latest figures come as the government faces questions over whether its cost-of-living measures are sufficient to offset rising energy prices. “Containing fuel prices rather than achieving major decreases is the government’s current policy,” Keravnos said on Tuesday. Speaking on the sidelines of an event marking European Statistics Day, the finance minister said the authorities were monitoring the impact of recently announced support measures. An initial assessment by the Consumer Protection Service had found that prices of some essential goods had fallen by 5 per cent, he said. However, when asked whether rising energy prices had already offset the relief provided by those measures, Keravnos cautioned against expecting substantial reductions. “Under the circumstances, one should not expect significant decreases,” he said. Fuel prices rise across Europe Eurostat reported that EU prices for fuels and lubricants used in personal transport increased by 31.4 per cent in September compared with the same month in 2025. This followed annual increases of 16.9 per cent in July and 23.8 per cent in August, marking a further acceleration in fuel-related inflation. Annual increases in September were higher than those recorded in both July and August in 26 of the bloc’s 27 member states. Bulgaria recorded the largest annual increase, at 42.2 per cent, followed by Estonia at 40.6 per cent and Lithuania at 40.2 per cent. A further 12 countries registered increases exceeding 30 per cent, with rises ranging from 37.5 per cent in the Czech Republic to 30.3 per cent in Portugal. Hungary recorded the smallest annual increase, at 6.9 per cent, followed by Ireland at 17.7 per cent and Sweden at 19.9 per cent. Diesel and petrol costs climb On a monthly basis, diesel prices across the EU increased by 5.9 per cent in September, slowing from the 8.3 per cent rise recorded in August. Petrol prices, meanwhile, accelerated, rising by 6.7 per cent in September compared with a 3.3 per cent increase in August. Diesel prices increased in 26 EU countries between August and September, with the largest rises recorded in Sweden at 12.8 per cent, Latvia at 10.3 per cent and Poland at 9.7 per cent. The smallest increases were recorded in Spain at 2.4 per cent, Croatia at 2.5 per cent and Romania at 3 per cent. Petrol prices also rose in 26 member states over the month. Sweden recorded the largest increase, at 13.8 per cent, followed by Poland at 9.7 per cent and Estonia at 9.5 per cent. Cyprus registered the smallest monthly increase in petrol prices, at 3.8 per cent, followed by Romania at 4.2 per cent and Slovenia at 4.6 per cent. The figures underline the continuing pressure on household transport costs, even as the pace of monthly increases differs considerably between member states. For Cyprus, the latest data provide a mixed picture, with annual fuel-related inflation remaining substantial but the monthly rise in petrol prices among the lowest in the EU.