Easing pump prices bring relief as Cyprus fuel inflation falls to single digits

Cyprus fuel price growth slows sharply to 9.9 per cent in July Cyprus recorded a sharp slowdown in annual fuel price growth in July 2026, with prices for fuels and lubricants for personal transport rising 9.9 per cent year-on-year, according to Eurostat data. The increase was significantly lower than the 18.6 per cent annual rise recorded in June and the 20.5 per cent increase registered in May. Despite the slowdown, fuel prices in Cyprus remained higher than a year earlier, although the island recorded one of the more moderate annual increases in the European Union. Across the EU, the price of fuels and lubricants for personal transport rose by 16.9 per cent in July compared with July 2025, following annual increases of 20.7 per cent in May and 13.7 per cent in June. Fuel prices were higher year-on-year in 25 of the EU’s 27 member states in July. In 13 countries, the annual increase recorded in July was larger than the increase seen in June. However, July’s annual rate was lower than May’s in 24 countries, with four countries having recorded annual increases of more than 30 per cent that month. Romania recorded the largest annual increase in the EU, at 24.2 per cent, followed by Germany and Lithuania at 22.9 per cent each. Bulgaria followed with an increase of 22.2 per cent, while prices rose by 22.0 per cent in the Netherlands and 20.5 per cent in Finland. At the other end of the scale, Hungary recorded a marginal annual decrease of 0.1 per cent. Sweden registered the lowest annual increase among countries where prices still rose, at 1.2 per cent, followed by Ireland at 3.2 per cent. Cyprus’s 9.9 per cent increase therefore remained below the EU-wide rate, despite fuel prices continuing to exert upward pressure compared with a year earlier. The latest figures also showed a contrasting monthly movement in Cyprus, where both diesel and petrol prices fell between June and July, even as prices increased across the EU as a whole. EU consumers saw diesel prices rise by 4.3 per cent between June and July, while petrol prices increased by 4.7 per cent. This followed monthly declines of 6.4 per cent for diesel and 4.2 per cent for petrol between May and June. The European statistical office also reported that diesel prices increased between June and July in 17 EU countries. Poland recorded the largest monthly increase at 13.4 per cent, followed by Germany at 12.7 per cent and Greece at 12.1 per cent. Prices declined in nine EU countries, with Cyprus recording the largest fall, at 7.9 per cent. Sweden followed with a decrease of 7.4 per cent, while Ireland recorded a 6.4 per cent decline. What is more, Eurostat reported that petrol prices rose in 14 EU countries and fell in the remaining 12 between June and July. The largest monthly increase, it added, was recorded in Poland, where petrol prices rose by 17.2 per cent. Germany followed with an 11.0 per cent increase, while Spain recorded a 7.1 per cent rise. At the same time, Sweden recorded the largest decline in petrol prices at 11.1 per cent, followed by Cyprus at 5.4 per cent and Ireland at 4.1 per cent. The July figures therefore point to a significant easing in the pace of Cyprus’s annual fuel price inflation, while also showing that the country experienced some of the largest monthly declines in both diesel and petrol prices in the EU.