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Cyprus has the largest share of petrol use in EU

by THEFUTURE.TEAM

October 10, 2024

Petrol/diesel oil was the main energy source in road transport in the EU in 2022, while Cyprus had the largest share of use of motor petrol among member states, according to data released by Eurostat.

Petrol/ diesel oil and motor petrol remained the leading energy sources in road transport in 2022, according to the statistics.

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In the EU, petrol/diesel oil (excluding the biofuel portion) was the main source of energy in road transport in 2022, with a 65% share. Motor petrol (excluding the biofuel portion) followed at 25%, ahead of renewables and biofuels (6%), liquefied petroleum gases (2%), natural gas (1%) and electricity (0.3%).

In most EU countries, petrol/diesel oil was the primary source of energy for road transport, though there were noticeable differences between the countries.

The highest shares were reported in Latvia (80%) and Lithuania (76%), followed by Ireland, Austria, and Spain, each at 74%. In contrast, the lowest shares were recorded in Sweden (45%), Cyprus (46%) and the Netherlands (48%).

The share of motor petrol was highest in Cyprus (50%), the Netherlands (42%), and Malta (36%). The lowest shares were reported in Lithuania (13%), Latvia (14%) and Bulgaria (15%).

Energy consumption in transport at pre-pandemic levels

According to the statistics, in 2022 transport activities accounted for 31% of the final energy consumption in the EU, which made it the highest consumer of final energy, ahead of households (27%) and industry (25%).

Road transport was the largest energy consumer, responsible 74% of all energy consumption in transport, or 10,996 petajoules (PJ). Water transport accounted for 13% of all energy consumed in transport (1,935 PJ), followed by air (11%; 1,700 PJ) and rail transport (1%; 214 PJ).

Compared with 2021, air transport recorded the highest increase in energy consumption, with a striking 57% rise. In 2022, energy consumption levels in air transport were approaching the pre-pandemic figures, following sharp declines in 2020 and 2021.

Energy consumption also increased, if not as rapidly in road transport, which also approached 2019 levels.

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Cyprus Fuel Prices Expected To Rise As Oil Prices Increase

by THEFUTURE.TEAM

March 10, 2026

International Oil Market Dynamics

Fuel prices in Cyprus are expected to rise gradually in the coming weeks as international crude oil prices continue to increase. Recent reports show that heavy crude prices moved from about $93 per barrel to a peak of $117 before settling near $107, reflecting continued volatility in global energy markets.

Projected Retail Impact And Stage-Wise Price Adjustments

Sabbas Prokopiou, president of the Pan-Cypriot Fuel Stations Owners Association, said these international price movements are expected to gradually affect retail fuel prices in Cyprus. A recent increase of around two cents per litre has already been recorded. Additional price adjustments may follow in the coming weeks as international fuel costs pass through the supply chain and reach the retail market.

Geopolitical Tensions And Market Reactions

Geopolitical developments have also contributed to recent price movements. Concerns about potential regional conflict initially pushed crude prices higher. In a single trading session, prices reportedly rose by about $10 per barrel. More recently, attacks targeting oil storage facilities have added further pressure to international crude markets.

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Strategic Outlook And Industry Insights

Prokopiou said further increases in fuel prices remain possible depending on developments in international oil markets. However, he noted that estimating the scale of retail price adjustments remains difficult during periods of geopolitical uncertainty. Similar market patterns were observed in 2022 following the start of the Russia-Ukraine war, when international crude prices rose sharply.

Market participants, including fuel importers and the Consumer Protection Service of the Ministry of Energy, Commerce and Industry, continue to monitor developments in international energy markets.