Rising Energy Prices and Their Impact on Cyprus
March 3, 2026
Europe is facing an energy crisis due to the war in the Middle East, with significant increases in oil and natural gas prices. Economist Mario Kliridis states that the consequences will depend on the duration of the conflict. Electricity prices in Cyprus might be affected since the Electricity Authority uses heavy fuel oil. Additionally, fuel price increases are expected within the next 10 days. Oil companies seem to have alternative supply options available.