The President of the Pancyprian Gas Station Owners Association, Savvas Prokopiou, estimates that fuel prices will decrease over the next 10 days due to the drop observed recently in international oil prices, he told the Cyprus News Agency (CNA).
Prokopiou said that there have been fluctuations in prices lately and added that “last week, the price of oil decreased slightly while gasoline prices increased somewhat.”
He noted that recently there had been “a sharp drop in international oil prices, by around 10 to 15 dollars, but usually these reductions reach Cyprus after 10 to 15 days, just as happens when there are increases.”
“I believe we will observe some reductions in fuel prices in Cyprus over the next 10 days, despite the fact that in recent days we have seen increases in international oil prices,” he added.
However, Prokopiou stressed that “there are still unpredictable factors,” adding that “one day the situation creates some hope, and the next day that hope disappears.”
“Logically, based on our experience, there will be some reductions over the next 10 days, but the situation remains volatile,” he concluded.
