By George Vichas
Another uphill climb is on the horizon for fuel prices, at a time when consumers are being asked to pay the already increased price.
Speaking to the Cyprus
Times[/B], Cyprus Consumers Association President Marios Drousiotis estimates that - albeit a somewhat dicey prediction - the increases will continue until the end of March. "I have no doubt that they will exceed 10 cents a litre" he stressed.
"eIn the next month and a half I will be happy if the increase stays at 10 cents, at least compared to January" he added.
Indicatively, he added, the average price of unleaded 95 will exceed 1.50 a litre. "Already today the most expensive stations are selling per liter 1.41 unleaded, 1.51 diesel, while heating oil has exceeded 1 euro."
As Mr. Drousiotis pointed out, today the price of oil per barrel ranges at 92 dollars while just last August-September it was at 70 dollars. International analysts expect that by March the price will reach the $100 per barrel barrier, "it is terrible such an increase," he noted.
Differences with January 2021
According to data released on Monday by the Cyprus Consumers Association, compared to January 2021, the retail price for Petrol 95 recorded an increase of 0,308 cents/litre, Motor Oil recorded an increase of 0.356, while for the same dates Heating Oil also recorded an increase of 0.323.
The last prices before the pandemic
In the times before the imposition of restrictive measures, 10 March 2020, unleaded 95 sold for 1.20 per litre, diesel for 1.23 per litre and heating oil for 0.78.
Lowest amid lockdown
At the same time, the lowest prices were recorded amid lockdown, due also to travel restrictions, in June 2020 when unleaded 95 fell to 0.96 cents per litre, diesel to 0.97 cents and heating oil to 0.62 cents.
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Views & opinions expressed are those of the author and/or Cyprus Times
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