By George Vichas
New cycle of fuel increases from today with consumers feeling the price rally in their skin.
As of Thursday morning, petrol stations and consumers are seeing price indices rise by 4 cents a litre on petrol and 1 cent a litre on diesel.
Speaking to the Cyprus Times
, the Press Spokesman of the Association of Petrol Station Owners Christodoulos Christodoulou said that we are entering a new cycle of increases.
As Mr. Christodoulou the trend remains upwards, noting that we will approach 2 euros in the coming weeks, as things are looking up.
Regarding the conditions prevailing internationally, Christodoulou said that on Tuesday the price of crude oil rose to a three-month high, reaching 114 dollars. "We haven't reached such a price for 3 months, since March," he said."
"We cannot predict a ceiling"
Asked about this, the Press Spokesman for the Association of Petroleum Distributors said that we cannot predict a ceiling on increases. "As long as we see the price of crude oil going up, we cannot make such a prediction," he stressed.
Regarding the reduced excise tax on fuel, which is valid until June 1, Christodoulou said that the members of the Association expect and anticipate that there will be an extension of the decision.
"A matter of sustainability"
With regard to petrol station owners, Mr Christodoulou expressed his concern about the fact that members of the association are under daily fire from consumers over prices. "They think that we set the prices. The reality is that as prices go up, our incomes go down and we also face a sustainability problem," he explained.
"There is a strong sustainability issue," Christodoulou reiterated. "The companies recognise that there is a viability problem at the service stations and they are in discussions with the service station owners to give them a additional profit margin," he concluded.
[/P]Prices as they were on Wednesday 18 May according to the Fuel Price Observatory
Unleaded 95
-Average price in € (Pancyprian)1,634
-Lowest Price in € (Pancyprian)1,533
-Exactest Price in € (Pancyprian)1,713
Unleaded 98
-Medium Price in € (Pancyprian)1,697
-Lowest Price in € (Pancyprian)1,598
-Exact Price in € (Pancyprian)1,798
Kerosene
-Medium Price in € (Pancyprian)1,266
-Lowest Price in € (Pancyprian)1,219
-Exact Price in € (Pancyprian)1,360
Heating oil
-Middle Price in € (Pancyprian)1,269
-Lowest Price in € (Pancyprian)1,219
-Exact Price in € (Pancyprian)1,370
Motor Oil
-Middle Price in € (Pancyprian)1,808
-Lowest Price in € (Pancyprian)1,739
-Exactest Price in € (Pancyprian)1,899
Contents of this article including associated images are belongs Cyprus Times
Views & opinions expressed are those of the author and/or Cyprus Times
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