Cyprus Among EU Leaders In Monthly Fuel Price Declines
Cyprus recorded some of the largest monthly fuel price declines in the European Union. Diesel prices fell 7.9% in July, the sharpest monthly decrease in the bloc, followed by Sweden at 7.4% and Ireland at 6.4%.
Petrol prices also declined sharply in Cyprus, with the country recording the second-largest monthly drop after Sweden, where prices fell 11.1%.
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Annual Fuel Costs Remain Above 2025 Levels
Despite the monthly decline, fuel remains significantly more expensive than a year earlier. In June 2026, the cost of fuels and lubricants for personal transport in Cyprus was 18.6% higher than in June 2025, placing the country among the EU members with the largest annual increases.
Across the EU, the annual increase slowed from 20.7% in May to 13.7% in June before rising to 16.9% in July. Monthly declines therefore have not yet brought fuel costs back to 2025 levels.
Fuel Costs Continue To Affect Businesses
Lower prices in July reduced some of the pressure on households after months of higher fuel costs. Businesses that rely on road transport remain more exposed to the annual increase, which can affect logistics and operating costs.
Cyprus therefore recorded a sharp monthly decline while still facing one of the larger year-on-year increases in the EU.
Cyprus Ranks Among EU Countries With Lowest Fuel Prices
Weekly data from the European Commission’s Weekly Oil Bulletin showed average prices in Cyprus at €1.56 per litre for 95-octane unleaded petrol and €1.70 for diesel at the beginning of August.
Using data with a reference date of Aug. 17, Cyprus had the fifth-lowest petrol price among the EU’s 27 countries. Diesel prices were also the fifth-lowest in the bloc.
The July decline has reduced fuel prices in Cyprus, but costs remain above their levels a year earlier.
