Increased Fuel Demand in Cyprus and Anticipated Price Hikes
March 4, 2026
Fuel demand in Cyprus increased by 30% due to the war developments between the US and Iran, with estimates suggesting prices will rise by 6-7 cents per liter in upcoming shipments. The president of the Fuel Station Association noted that this increase was not observed the following day and emphasized that the demand for heating oil was unexpected for this time of year. The psychology surrounding the conflict also contributes to the demand. Price increases for fuel are anticipated, but at a slower pace than current international surges. Mr. Prokopiou believes that demand will decrease in the near future.