The President of Cyprus Stockists Mr. Savvas Prokopiou spoke to 24H and gave his own estimates for the coming weeks regarding the reduction of fuel and the heating oil that is not yet in demand.. due to summer conditions!
Are there more fuel cuts coming? Will consumers breathe a sigh of relief? What will happen to heating oil?
The President of Cyprus Stockists, Mr. Savvas Prokopiou, answers and gives his own assessment to 24H!
“In recent months there has been a normalization in fuel prices in Cyprus. I will say it for the umpteenth time, that the fuel import companies and the competent consumer protection department of the Ministry of Energy know how prices move.
Fuel prices are a little lower, so globally there is this phenomenon. The trend is downward for the price of oil, Globally and we also hope that they will remain down for some time. And somewhere here I should emphasize that fuel prices fluctuate from time to time, so we will definitely have cheap fuel in some periods, at a time when the prices of some other products will unfortunately increase.
Ultimately, our our estimates are always based on experience and what I have to say is yes, in the next 10-15 days we will have reductions in fuel”.
As for regarding heating oil, Mr. Prokopiou said that “the weather does not favor the demand for heating oil, due to high temperatures for the season. The weather in Cyprus is summer and there was no demand. Prices have been fluctuating at very high levels, unfortunately, for the last three years, around 1.20-1.25”.