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Fuel Price Increases Expected in Cyprus Due to Iran Conflict

Published March 2, 2026, 09:10
Fuel Price Increases Expected in Cyprus Due to Iran Conflict

Fuel prices in Cyprus are experiencing an increase of 10-12% due to escalating tensions in Iran. The President of the Pan-Cypriot Association of Petrol Station Owners, Savvas Prokopiou, stated that this increase will begin to appear at petrol stations within the next 10 days. However, this increase is smaller compared to the corresponding increase that occurred at the start of the war in Ukraine in 2022. The current increase is around 10%, while in 2022 it was significantly higher. Mr. Prokopiou expressed hope that the price of crude oil will stabilize below $80 per barrel, which would be a positive sign for the development of fuel prices. Overall, the situation is being closely monitored, and possible further developments will affect fuel prices in Cyprus in the coming days.