Fuel Prices Surge In Cyprus: Implications For Consumers And Supply Chains

by THEFUTURE.TEAM

March 16, 2026

Rapid Price Increases Over Two Weeks

Fuel prices in Cyprus increased between February 27 and March 13, according to data from the Consumer Protection Service. The increases affected gasoline, diesel and heating oil. Brent crude oil prices also rose during the period, exceeding $100 per barrel.

Data Highlights And Economic Impact

Between February 27 and March 13, significant increases were recorded at the pumps, according to data from the Consumer Protection Service. The following table illustrates the changes across different fuel categories:

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Fuel Type	Price On 27/02 (€)	Price On 13/03 (€)	Increase (per liter)
Gasoline (95 Octane)	1.314	1.416	+0.102
Diesel	1.410	1.562	+0.152
Heating Oil	0.949	1.079	+0.130

Diesel recorded the largest increase, rising by more than €0.15 per liter. Gasoline (95 octane) increased by more than €0.10 per liter. Heating oil prices also increased during the period, rising by €0.13 per liter.

Historical Context And Comparative Analysis

The current pricing regime, while challenging, is still appreciably lower than the crisis levels seen three years ago. For example, before the government’s consumption tax adjustments on November 2, 2023, prices were markedly higher:

Gasoline (95 Octane): Priced at €1.55, which was 13.4 cents higher.
Diesel: Priced at €1.709, representing a 14.7 cent increase.
Heating Oil: Priced at €1.24, or 16.1 cents above previous levels.

Cyprus In The European Context

Analysis based on data from the European Commission for 2026 reveals a curious paradox: while final consumer prices in Cyprus are among the lowest in the European Union, this is largely due to lower tax rates. For instance:

Gasoline (95 Octane): Cyprus ranks as the second cheapest in the EU, with an average price of €1.320 compared to the EU average of €1.639.
Diesel: It is the fourth cheapest, at an average of €1.401 compared to €1.608 across the EU.

However, when taxes are removed from the equation, Cyprus’ import and wholesale fuel prices position the island in a more median range: the country ranks twelfth for gasoline at an average of €0.67 per liter and tenth for diesel at €0.767 per liter.

Looking Ahead

Fuel prices in Cyprus continue to reflect both international oil prices and domestic tax policy. The latest data provide an overview of recent changes in retail fuel prices across the country.

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New York Overtakes San Francisco In Tech Talent As AI Hiring Expands

by THEFUTURE.TEAM

August 25, 2026

New York has overtaken the San Francisco Bay Area in total tech talent for the first time in 13 years of CBRE’s analysis, as AI hiring expands across industries. The shift is also changing demand for office space, with AI companies accounting for a growing share of leasing activity in major U.S. tech hubs.

New York Takes The Lead In Tech Talent

According to CBRE, New York had 394,300 tech talent jobs as of June, compared with 375,730 in the San Francisco Bay Area. The report covers 75 metropolitan markets across the U.S. and Canada and marks the first time New York has ranked first.

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Colin Yasukochi, executive director of CBRE’s Tech Insights Center in San Francisco, attributed the shift to two trends. San Francisco has seen layoffs and a contraction in its tech workforce, while New York’s financial sector has increased hiring of AI and technology workers.

AI Hiring Is Expanding

AI-related tech roles grew 45% across the U.S. and Canada over the past year. San Francisco and New York each added more than 20,000 AI-specific jobs since mid-2025, while the combined AI workforce reached 751,000 by June.

AI roles now account for nearly one-third of all tech job listings in the U.S. The growth reflects increasing demand for AI talent across industries, including financial services.

AI Jobs Remain Concentrated In Major Hubs

New York leads in total tech talent, but San Francisco remains the largest U.S. market for AI jobs. Four markets, San Francisco, New York, Seattle and Washington, account for 37% of all U.S. AI employment, according to CBRE.

Canada’s AI workforce is even more concentrated. Toronto, Montreal and Vancouver account for about 60% of the country’s AI employment.

AI Hiring Is Driving Office Demand

The growth in AI employment is also showing up in office leasing. AI companies accounted for 58% of San Francisco office leasing in the first half of this year and about 30% of leasing activity since 2023, totaling roughly 10 million square feet, according to CBRE.

AI companies are also maintaining a stronger office presence than many technology companies did after the pandemic. Yasukochi said AI startups often rely on frequent in-person collaboration.

“It’s more of the sort of startup innovation culture that we’ve seen, where people are in the office a minimum of four, but usually like five or six days a week,”
Yasukochi said.

CBRE also identified Manhattan, Boston and Seattle as major centers of AI-related office leasing.

The data suggests that AI hiring is supporting office demand in several major markets, even as other parts of the commercial real estate sector continue to face slower growth and more selective tenant demand.

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