Some of the fuel subsidy the Cypriot government introduced to ease the burden of rising prices got siphoned away from consumers, who did not full benefit from the initiative at the pump, according to findings from the Cyprus Consumers Association.
The subsidy, amounting to 8.33 cents per liter, went into effect Saturday, April 4, and is scheduled to run through the end of June. It was part of a package of measures approved by the Council of Ministers to support households facing steep fuel cost increases. However, the association argues that not all of this benefit reached drivers, claiming that a portion was retained by fuel retailers without justification.
The association tracked fuel prices across stations nationwide from late evening on Friday through the morning of Saturday, recording updates every 30 minutes. Based on the policy, prices should have dropped by the full subsidy amount immediately after midnight.
Their analysis on diesel prices using official data showed mixed compliance: By 8 a.m., 19 stations had not reduced prices at all. Another 97 applied smaller cuts, while 67 reduced prices slightly above the subsidy.