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Rocketing Fuel Prices Amidst Middle East Conflicts

Published March 19, 2026, 08:20
Rocketing Fuel Prices Amidst Middle East Conflicts

Fuel prices continue to rise amid ongoing conflicts in the Middle East. International oil prices rose by more than 5%, reaching $109.50 a barrel, following Israel's attack on a gas field and Iran's threats to attack oil facilities in Saudi Arabia, the United Arab Emirates, and Qatar. Analysts predict that Brent prices could reach $130 a barrel. In Cyprus, the average price of 95 octane unleaded gasoline is now €1.449 per liter, diesel €1.626, and heating oil €1.127, representing an increase compared to the previous week. These increases are expected to affect sectors such as construction, transportation, and shipping.