POWERED BY:
09:56 Sunday
12 June 2022 INSIDER • GOAL • IN-CYPRUS • PROPERTY • CYPRUS-IS • CAREER LIKE • GOING OUT • XRYSES SYNTAGES • ACTIVE • PHILGROUP NEWS & nbsp; SOCIETY & nbsp; INSIDER & nbsp; OPINIONS & nbsp; GOING OUT & nbsp; CULTURE & nbsp; SPORTS & nbsp; AUTO & nbsp; GOOD LIFE & nbsp; USEFUL & nbsp; PRINTED EDITION & nbsp;
ΑΡΧΙΚΗΕΙΔΗΣΕΙΣΠΟΛΙΤΙΚΗΤΟΠΙΚΑΠΑΡΑΣΚΗΝΙΟMEDIAΕΛΛΑΔΑΚΟΣΜΟΣΕΠΙΣΤΗΜΗΠΡΟΕΔΡΙΚΕΣ 2023ΤΕΧΝΟΛΟΓΙΑΣΥΝΕΝΤΕΥΞΕΙΣΧΡΥΣΕΣ ΕΤΑΙΡΕΙΕΣΚΟΙΝΩΝΙΑΕΙΔΗΣΕΙΣΚΥΠΡΟΣ ΤΟΥ ΧΘΕΣΑΝΑΓΝΩΣΤΗ ΕΧΕΙΣ ΛΟΓΟΕΠΙΣΤΟΛΕΣΣΥΝΕΝΤΕΥΞΕΙΣΔΗΜΟΦΙΛΗ ΣΤΟ INTERNETVIDEOSΑΦΙΕΡΩΜΑΤΑADVERTORIALINSIDERΕΠΙΧΕΙΡΗΣΕΙΣΚΥΠΡΟΣBRAND VOICECAPITALFORBESBLOOMBERG OPINIONΠΡΩΤΑΓΩΝΙΣΤΕΣΚΑΥΤΗ ΓΡΑΜΜΗΧΡΥΣΕΣ ΕΤΑΙΡΕΙΕΣΚΑΡΙΕΡΑΑΠΟΨΕΙΣΑΡΘΡΑ ΣΤΟΝ “Φ”ΠΑΡΕΜΒΑΣΕΙΣ ΣΤΟΝ “Φ”ΤΟ ΜΗΝΥΜΑ ΣΟΥ ΣΚΙΤΣΑΟ ΚΟΣΜΟΣ ΤΟΥ TWITTERGOING OUTTHINGS TO DOCINEMAΜΟΥΣΙΚΗΕΣΤΙΑΤΟΡΙΑBAR/CAFETV ΟΔΗΓΟΣΤΗΛΕΟΡΑΣΗΠΟΛΙΤΙΣΜΟΣΚΥΠΡΟΣΚΟΣΜΟΣΚΡΙΤΙΚΕΣΕΚΔΗΛΩΣΕΙΣΠΡΟΣΩΠΑΑΘΛΗΤΙΚΑΠΟΔΟΣΦΑΙΡΟΜΠΑΣΚΕΤΠΑΡΑΣΚΗΝΙΑΕΛΛΑΔΑΔΙΕΘΝΗΑΛΛΑ ΣΠΟΡΑΠΟΨΕΙΣΣΚΙΤΣΟVIDEOSAUTOΝΕΑΠΑΡΟΥΣΙΑΣΗΑΠΟΣΤΟΛΕΣΑΓΩΝΕΣΚΑΛΗ ΖΩΗΥΓΕΙΑΔΙΑΤΡΟΦΗΕΥ ΖΗΝΑΣΤΡΑΧΡΥΣΕΣ ΣΥΝΤΑΓΕΣΣΥΝΤΑΓΕΣ ΣΕΦΒΗΜΑ ΒΗΜΑΧΡΗΣΙΜΑΦΑΡΜΑΚΕΙΑΓΙΑΤΡΟΙΑΕΡΟΔΡΟΜΙΑΛΙΜΑΝΙΑΤΗΛΕΦΩΝΑΟΠΑΠΚΑΙΡΟΣΣΥΝΑΛΛΑΓΜΑΛΑΧΕΙΑAPPSΠΡΟΣΦΟΡΕΣΕΝΤΥΠΗ ΕΚΔΟΣΗ ΠΟΛΙΤΙΚΗΤΟΠΙΚΑΠΑΡΑΣΚΗΝΙΟMEDIAΕΛΛΑΔΑΚΟΣΜΟΣΕΠΙΣΤΗΜΗΠΡΟΕΔΡΙΚΕΣ 2023ΤΕΧΝΟΛΟΓΙΑΣΥΝΕΝΤΕΥΞΕΙΣΧΡΥΣΕΣ ΕΤΑΙΡΕΙΕΣ ΕΙΔΗΣΕΙΣΚΥΠΡΟΣ ΤΟΥ ΧΘΕΣΑΝΑΓΝΩΣΤΗ ΕΧΕΙΣ ΛΟΓΟΕΠΙΣΤΟΛΕΣΣΥΝΕΝΤΕΥΞΕΙΣΔΗΜΟΦΙΛΗ ΣΤΟ INTERNETVIDEOSΑΦΙΕΡΩΜΑΤΑADVERTORIAL ΕΠΙΧΕΙΡΗΣΕΙΣΚΥΠΡΟΣBRAND VOICECAPITALFORBESBLOOMBERG OPINIONΠΡΩΤΑΓΩΝΙΣΤΕΣΚΑΥΤΗ ΓΡΑΜΜΗΧΡΥΣΕΣ ΕΤΑΙΡΕΙΕΣΚΑΡΙΕΡΑ ΑΡΘΡΑ ΣΤΟΝ “Φ”ΠΑΡΕΜΒΑΣΕΙΣ ΣΤΟΝ “Φ”ΤΟ ΜΗΝΥΜΑ ΣΟΥ ΣΚΙΤΣΑΟ ΚΟΣΜΟΣ ΤΟΥ TWITTER THINGS TO DOCINEMAΜΟΥΣΙΚΗΕΣΤΙΑΤΟΡΙΑBAR/CAFETV ΟΔΗΓΟΣΤΗΛΕΟΡΑΣΗ ΚΥΠΡΟΣΚΟΣΜΟΣΚΡΙΤΙΚΕΣΕΚΔΗΛΩΣΕΙΣΠΡΟΣΩΠΑ ΠΟΔΟΣΦΑΙΡΟΜΠΑΣΚΕΤΠΑΡΑΣΚΗΝΙΑΕΛΛΑΔΑΔΙΕΘΝΗΑΛΛΑ ΣΠΟΡΑΠΟΨΕΙΣΣΚΙΤΣΟVIDEOS ΝΕΑΠΑΡΟΥΣΙΑΣΗΑΠΟΣΤΟΛΕΣΑΓΩΝΕΣ ΥΓΕΙΑΔΙΑΤΡΟΦΗΕΥ ΖΗΝΑΣΤΡΑΧΡΥΣΕΣ ΣΥΝΤΑΓΕΣΣΥΝΤΑΓΕΣ ΣΕΦΒΗΜΑ ΒΗΜΑ ΦΑΡΜΑΚΕΙΑΓΙΑΤΡΟΙΑΕΡΟΔΡΟΜΙΑΛΙΜΑΝΙΑΤΗΛΕΦΩΝΑΟΠΑΠΚΑΙΡΟΣΣΥΝΑΛΛΑΓΜΑΛΑΧΕΙΑAPPSΠΡΟΣΦΟΡΕΣ ΕΠΙΧΕΙΡΗΣΕΙΣ ΚΥΠΡΟΣ BRAND VOICE CAPITAL FORBES BLOOMBERG OPINION ΠΡΩΤΑΓΩΝΙΣΤΕΣ ΚΑΥΤΗ GOLDEN GOLDEN COMPANIES CAREER
EXCLUSIVE COOPERATION
TOGETHER WITH
Powered by
Next Nineteen times the price of gasoline has increased since January HOME • INSIDER • CYPRUS • The price of gasoline has increased nineteen times since January
& nbsp & nbspΤης Ελευθερίας Paizanou & nbsp; & nbsp;
EAC fuel and bills are increasing the monthly expenses of households and businesses, despite the tax breaks provided by the government in recent months, which, however, are not sufficient to offset the dizzying rise in prices. Now, a visit to the gas station has become a nightmare for consumers, who each time pay more to refuel their vehicles or put less gasoline with the same money.
READ ALSO: & nbsp; Accuracy does not go away quickly
Also, most citizens panic when they open the inflated EAC accounts. The increase in fuel and electricity prices in Cyprus is causing dizziness and as it seems the race of increases has no end. From the time of the Covid pandemic until today, prices have doubled without exaggeration. For example, & nbsp; at the beginning of May 2020 the price of unleaded gasoline was 96 cents per liter, while in recent days the average price across Cyprus was € 1.79 per liter, the lowest was € 1.71 per liter and the highest was € 1.86 per liter .
According to data from the Ministry of Finance, this year, at the end of May, gasoline was 48 cents more expensive per liter compared to the corresponding month of 2021. At the same time, compared to 2020, gasoline at the end of last month was 70 cents more accurate. In fact, in March 2020 and for a few months, fuel prices had shrunk, due to the global recession that had affected prices internationally. It is worth noting that the above increases relate to fuel prices before taxes, ie VAT and excise duty on fuel.
In fact, the analysis of the data of the Ministry of Finance shows that after the burden of fuel with taxes, the average price increase is 60 to 70 cents per liter. At the same time, the data show that the price of gasoline in Cyprus is much lower than the European Union average, in contrast to the price of diesel, which although not at the same level as other European countries, however, the difference is 2 to 5 cents per liter.
It should be noted that the data may show that the average price of fuel in Europe is higher than in Cyprus, however, in the rest of the EU countries they have adequate public transport and are not as dependent on cars as in Cyprus. . “F” presents the price rally in fuel prices recorded from 2019 until the end of May 2022. This year, from the beginning of the year until last May, the price of fuel rose 19 times, each time breaking a new record in prices .
The course of gasoline
Analytically, on May 30, 2022, 95 octane gasoline in Cyprus was sold at € 1.72 per liter, including taxes, compared to an average of € 2.01 per liter in the EU. Prior to tax, the average price of petrol was € 1.07 per liter and in EU countries it was € 1.13 per liter.
Moreover, going back one year, ie on May 31, 2021, the average selling price of 95 octane gasoline (including taxes) was sold in our country at € 1.23 per liter, while in Europe it was € 1.39 per liter. It is also noteworthy that the price of gasoline before entering the tax cap was at the same levels in both Cyprus and Europe, as it was sold at the price of 59 cents per liter.
On the other hand, oil prices were low in Cyprus on June 1, 2020, & nbsp; as their selling price was 96 cents per liter (including taxes), in contrast to Europe, where the average price was € 1.18 per liter . Excluding taxes, the price of 95-octane unleaded petrol in Cyprus was 37 cents and 42 cents in Europe. Meanwhile, on May 27, 2019, the prices of unleaded gasoline (including taxes) were € 1.24 in Cyprus and € 1.43 per liter in Europe. It is noted that, excluding tax charges, the price of gasoline in Cyprus was 61 cents per liter and the average price in the EU was 63 cents per liter.
Oil is not profitable
The use of diesel vehicles is unprofitable, due to the exorbitant prices. Specifically, the price of diesel (including taxes), at the end of May the average selling price was € 1.81 per liter, while in the EU it was € 1.86 per liter. Excluding taxes, diesel in Cyprus was € 1.18 in Cyprus and the average price in the EU was € 1.12 per liter. Moreover, on May 31, 2021, the average selling price without taxes in Cyprus and Europe was at the same level – 63 cents per liter. After the imposition of taxes, in our country the price of diesel rose to € 1.24 per liter and in Europe to € 1.20.
Last year, in the year of the outbreak of the pandemic, the price of oil with taxes in our country was € 1 per liter and in the EU it was sold at 99 cents per liter. It should be noted that without taxes the prices in Cyprus were 42 cents per liter and in Europe 46 cents per liter. Meanwhile, at the end of May 2019, diesel in our country was sold at € 1.28 per liter and in the EU at € 1.39 per liter (including taxes), while without taxation the & nbsp; average price was 66 cents per liter.
Electricity costs in households
This year, the percentage of household expenditure in Cyprus, in Europe and in the Eurozone, for the purchase of electricity, is at the same level and is 3.1%. Last year, household spending in our country for electricity was 3% and 2.9% in Europe and the Eurozone. In 2020, electricity consumption in Cyprus was 2.5%, in Europe 2.6% and in the Eurozone 2.7%. In 2019, Cyprus and the European Union had a similar share of electricity consumption, 2.7% in Cyprus and 2.8% in the Eurozone. Note that the calculation of the household expenditure rate for electricity is based on the electricity weighting, as calculated (based on the EAC data and national accounts), for the compilation of the harmonized consumer price index.
< p> On the 20th of the month the latest for the law proposals
The Ministry of Finance sent the relevant data to the Parliament after the discussion of the law proposals of AKEL, DIKO and DIPA, with which it is proposed horizontally support for consumers, households and businesses. The government disagrees with the bill, which claims to increase inflation and have a budget cost of & nbsp; around € 282 million a year.
The draft law of AKEL provides for the abolition of double taxation on fuel by the end of the year, that is, to end the imposition of VAT on excise tax, and is costed by the competent ministry at € 60 million
At € 89 million (of which € 73 million are costed in the suggestions of DIPA) is estimated the cost of the DIKO law proposal, which proposes the abolition of VAT in the refueling clause of the EAC fuel by the end of the year. However, DIKO claims that its proposal is costed at € 44 million.
Moreover, the cost of DIPA's law proposal for six months reaches six months, for zero VAT on food, medicines and pollution, as well as a 5% reduction in VAT on restaurants and food services.
On the 20th of this month, at a new meeting of the Finance Committee, it will be decided in view of the intention of the Minister of Finance, Konstantinos Petridis, to consult with the parties in order to find a solution that satisfies all parties.
