November was a month of "fire" for the drivers' pockets, as increases were observed in liquid fuels, while a significant increase was recorded from the beginning of the year.
According to the Cyprus Consumers' Association, increases were recorded in both the retail prices of 95 petrol and diesel.
Specifically, taking into account the increases during November, compared to the end of October 2019, there were overall increases in gasoline 95 1,6 cents per liter and in diesel increases by 1,3 cents per liter. Heating oil decreased by 0,8 cents per liter.
From the beginning of January 2019 until the end of November, the retail price for gasoline 95 increased by 7,7 cents per liter, the price of diesel increased by 5,8 cents per liter and heating oil by 2,1 cents per liter.
From the increases in the price of petrol 95 and diesel, for November 2019 alone, consumers were charged a total of € 29 768 euros compared to October 2019. For petrol 95 they were charged € 17 261 and for diesel, € 12 507 euros.
Heating oil in November 2019, compared to October 2019, decreased by 7 euros per thousand liters. Its average price on November 1 was 835 euros per thousand liters and at the end of the month it decreased to 827 euros per thousand liters. The reason why there is no noticeable difference in prices is the weather conditions that do not favor the introduction of new quantities that are currently lower. It is noted that the average price of heating oil in the European Union for October was significantly lower than the average price in Cyprus.
In November 2019, the average retail price of gasoline 95 in the European Union, with taxes was 1,417 cents per liter and in Cyprus 1,182 cents. Motor oil in the EU was 1337 cents per liter and in Cyprus 1,252 cents. Heating oil in the EU was 0,805 cents and in Cyprus 0,826 cents.
During the same month, the average retail price of 95 petrol in the European Union, excluding taxes, was 0,550 cents per liter and in Cyprus 0,554 cents. Diesel-free diesel in the EU was 0,606 cents per liter and in Cyprus 0,642 cents.
Heating oil in the EU was 0,554 cents and in Cyprus 0,609 cents. At this point we observe that there is a significant deviation of the average price in Cyprus by 3,6 cents per liter for diesel and a very significant deviation in heating oil by 5,5 cents per liter.
For petrol 95 there is a difference of only 0,4 cents per liter. The significant deviation in heating oil is obviously due to the non-introduction of new heating oil loads due to favorable weather conditions. But it is difficult to justify the difference of 5,5 cents per liter. It is also difficult, due to lack of data and information, to justify the difference of 3,6 cents per liter in diesel.
Source: Sigmalive