According to the latest data from the Cyprus Statistical Service, fuel sales at local gas stations saw an increase in May 2024. Compared to the previous month, the figures rose by 6.4%.
Key Highlights of the Fuel Sales Increase
The most significant growth was observed in jet fuel supplies, which saw a 12.7% increase, followed by a 3.9% rise in diesel sales and a 3.4% increase in gasoline sales. By the end of May 2024, total oil reserves had increased by 27.2% compared to the end of April.
However, on an annual basis, the volume of petroleum product sales decreased slightly by 0.2%, amounting to 122,359 tons. The largest drops were seen in the supply of fuel for ships, which fell by 30.1%, followed by a decline in sales of heating oil (-19.4%), diesel (-6.5%), and gasoline (-2.0%). On the positive side, jet fuel sales grew by 4.2%, and fuel oil sales saw a remarkable increase of 58.7%. Between January and May 2024, fuel sales grew by 2.2% compared to the same period in the previous year.
Retail Fuel Price Reduction
In mid-May 2024, retail prices for gasoline and diesel on the island decreased, following a global drop in oil prices. Notably, there is a significant price difference between gas stations in Cyprus, which can reach up to 5-6 euros per full tank.
Stay Updated on Fuel Prices in Cyprus
For real-time updates on retail prices for gasoline and diesel across Cyprus, you can track the latest information on the website of the Ministry of Energy, Commerce, and Industry of the Republic of Cyprus (available in Greek).
Rent a Car in Cyprus
With the increase in fuel sales, traveling around Cyprus has never been easier. If you’re planning to explore the island, check out secrental.com for the best car rental offers. With a user-friendly search tool, a wide range of vehicles, and competitive prices, securing a rental car will ensure you have a comfortable and convenient journey while enjoying all that Cyprus has to offer.
