The Cypriot consumer association is asking the government to reinstate the fuel subsidy for another two months. In his announcement he points out among other things that from 01 July 2023 until today, fuel prices have increased by an average of 18 cents per liter with estimates saying that the increases will continue. It is additionally pointed out that the prices in force today are increased by 10 cents per liter compared to the prices prevailing at the time of the State's first decision to subsidize fuel on March 07, 2022. The link argues that the State's finances will not be affected by a reinstatement of the fuel subsidy for another two months
The announcement of the consumer association is the same:
The Cypriot Consumers' Association, regarding the decision of the Ministry of Finance to abolish the fuel subsidy from 01 July 2023, made a statement and stated that it finds it justified, citing the rationale for its statement.
Unfortunately, from July 1, 2023 when the fuel subsidy was abolished until today, the facts have changed significantly which justify and force the reinstatement of the fuel subsidy for another two months for the following reasons:
1. From 01 July 2023 to date, fuel prices have increased by an average of 18 cents per litre. Unfortunately, our assessment is that the increases will continue.
2. The prices in force today are increased by 10 cents per liter compared to the prices prevailing at the time of the first decision of the State to subsidize the fuel on 07 March 2022.
3. The finances of the State will not be affected by a reinstatement of the fuel subsidy for another two months. From the day the subsidy is abolished on July 01, 2023, until the end of the year, the state will have additional revenue from the imposition of VAT on increased fuel prices as much as it will allocate for fuel subsidy purposes for another two months.
4. The repeated official statements of the Minister of Finance about the finances of the State are that they are at a satisfactory level. Therefore, as long as the current finances of the state will not be affected by a continuation of the fuel subsidy and consumers are in need of this support, the Cyprus Consumers' Association considers that the reinstatement of the fuel subsidy for at least another two months is necessary.
The appeal of the Cyprus Consumers' Association to the Ministry of Finance is to take into account the current prevailing economic situation for consumers and to seriously consider the possibility of reinstating the fuel subsidy.
