Increases in fuel prices are taking place almost weekly, while since the beginning of the year the price of diesel has increased by about 50 cents and the price of gasoline by 40 cents, as the President of the Pancyprian Association of Petroleum Oils told KYPE , while expressing the assessment that prices will continue to rise.
Specifically, Mr. Prokopiou said that the formation of fuel prices "depends entirely on the global market, fuel import companies in Cyprus and the competent Ministry that controls this process" and added that gas station owners expect daily possible increases and " we adjust our prices with the profit margin being around 5 to 5,5 cents ".
He said that this precision started in the last six months and especially since the conflict between Russia and Ukraine started on February 24 and he expressed the belief that "we will not have reductions in the near future".
"The increases are coming in almost weekly, with the result that sometimes the companies for policy and competition issues break their increases into two," he said, adding that since the beginning of the year the price of diesel has risen by about 50 cents and by The price of gasoline is 40 cents.
He noted that at some point, for unknown reasons, a difference of about 25 cents between oil and gasoline was formed to reduce this difference later.
He added that today the price of diesel is over 1,80 euros per liter, while the price of gasoline is around 1,70 euros per liter, with the difference being reduced to around 8 to 10 cents.
In addition, Mr. Prokopiou said that the sales volume of gas station owners has decreased and added that the consumer has "too long" that reduced his additional travel with his private vehicle.
He also said that the new price increases will further reduce consumer movements and noted that the shift to electric cars also contributes to the reduction of gas station sales.
The President of the Gas Station then referred to the reduction of the excise tax on fuel, a development, he said, which helped mainly in the direction of consumer psychology, as "from the moment the first reduction took place, in the following days the largest an increase in the price of fuel that has ever existed in Cyprus ", as he explained.
He noted that oil traffic increased in the following days by about 27 cents, while the reduction due to the reduction of excise tax was about a little over 6 cents in diesel and more than 8 cents in gasoline.
He said that "such moves are welcome by the state" and expressed the view that the state should implement a formula that will determine the fixed taxes, depending on the levels at which fuel prices are.
Regarding what will happen with possible new fuel imports in Cyprus, Mr. Prokopiou told KYPE that "imports are clearly a matter for the companies" and the appropriate control by the competent Ministry of Energy, noting that the gas station owners simply follow.
Moreover, in relation to the fact that Greek Cypriots go to the occupied areas for fuel, the President of the Pancyprian Association of Gas Station Owners said that "no solution has been found yet for this issue, despite the fact that we all know that this activity is illegal".
"All these increases find the gas station owners in a very difficult position and it is a matter of survival for us", he underlined and noted that if the gas station owners do not survive, we will return to a regime where there will be no competition.
Gas station owners expect to be credited with the reduction of the excise tax from March
Besides, Mr. Prokopiou wondered why the gas station owners have not yet been credited with the money coming from the reduction of the excise tax, which has been done since March 8.
"We expect from this week as we have been informed that we will be credited," he added.
He said that the state when implementing a policy should be more direct and added that the beating of gas station owners is double as on the one hand they are consumers and on the other hand they are gas station owners.
Source: KYPE