Petrol station owners yesterday dismissed reports of alleged profiteering by some of their members following the increase in consumer tax on petrol products from January 1.
“I have no such information in mind and nothing of the sort has come to my attention,” the president of the Cyprus Petrol Station Owners Association Stefanos Stefanou told The Cyprus Daily.
His comments followed reports on news websites of cases of profiteering with the new petrol price hikes in the Paphos area.
Marios Droussiotis of the Commerce Ministry told Sigma television that the complaints had started before the advent of the New Year, when some petrol station owners refused to supply customers with petrol.
Droussiotis argued that although the petrol price hike come to 5.9 cent per litre including the 1% VAT hike -- which comes into force on January 13 -- some 25% of petrol station owners, charged six cent per litre.
“It is certainly an exaggeration to call profiteering the difference between 5.9 cent from 6 cent and we should know what we are talking about,” Stefanou said.
He was unable to know the future course of petrol prices due to the fluctuating prices of international crude oil.
The lowest unleaded petrol price (95 octane) was yesterday recorded at €1.383 per litre and the highest at € 1.398 cent per litre.
The new hikes are the result of consumer tax hikes in line with European directives and the Troika-driven 1% increase on VAT.
The new hikes do not affect the price of heating oil with the lowest price recorded in Paphos at €1.007 per litre and the highest at €1.025 per litre.