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EU can learn from Spanish gas price limit, EU energy chief says
The European Union can learn from Spain and Portugal’s mechanism to cap the price of gas used in power generation, although the scheme is not suitable to immediately roll out across Europe, the EU’s...
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Fuel and electricity costs to rise as relief measures expire (Updated)
Fuel and electricity prices are set to rise as of July 1 following expiration of the relief measures for consumers introduced last year. According to Finance Ministry permanent secretary, George...
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Discontent over abolition of relief measures rising
The abolition of the tax freeze on fuels and electricity sends the message that the government is out of touch with society, Peo union claimed on Wednesday. “The decision shows indifference to the...
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160 litres of untaxed petrol confiscated
Police have confiscated 160 litres of petrol, as well as 107 boxes of cigarettes and 12 boxes of tobacco, from a vehicle on the road between the villages of Kato Moni and Menoiko. The driver, a...
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Stricter controls for those trading in fuel from the north (Updated)
The government is due to announce stricter controls at crossings to clamp down on abuses related to the purchase of fuel from the north, Energy Minister George Papanastasiou said on Monday. The...
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Our View: Change of economic tune is necessary
It was encouraging to hear Finance Minister Makis Keravnos defending the government’s decision to end the subsidy of all electricity bills and the reduction of the consumer tax on fuel. It showed there...
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Union demands reduction in fuel tax
Trade union Isotita has called on Finance Minister Makis Keravnos to reduce taxation on fuel, in a strongly worded open letter sent on Thursday. They said fuel is a “major expense” for households as it...
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Fuel tanker drivers go on strike
Tanker drivers refueling from the facilities of the Hellenic Petroleum company in Vasiliko went on a spontaneous two-hour work stoppage on Tuesday morning. Employees of Cypoil Trading Ltd, Go Now,...
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Electricity and fuel subsidies extended into spring (Updated)
Government subsidies on electricity and fuel tax will be extended into the spring, President Nikos Christodoulides said on Wednesday. The extensions to the subsidies were announced among a raft of...
View ArticleAirlines use hedging, fuel surcharges to offset some pain as oil surges
The price of oil has surged to its highest level since 2008 after Russia’s invasion of Ukraine, adding to airline costs at a time when carriers have been struggling to recover from a pandemic-related...
View ArticleBritish bases clamp down on fuel smuggling from north
Sovereign Base Areas (SBA) customs officials have revealed regular operations at the Pergamos and Strovilia crossing points have made a significant dent in the illegal smuggling of fuel from the north...
View ArticleNo grounds yet for fuel price ceiling, Pilides says
Cyprus fuel prices have surged in line with those abroad, but are still among the lowest in the EU, Energy Minister Natasa Pilides said on Friday, adding that based on the data before her, there were...
View ArticlePotato farmers will take action if state does not support them
Following the rise in prices that has been at the centre of disputes and protests all over Cyprus in recent weeks, potato farmers said on Thursday they will also take action if the state does not...
View ArticlePEO criticises government ‘inactivity’ over price increases
Despite the government’s attempts to gather proposals to tackle rising prices and inflation, some are already expressing their discontent over the expected outcome and point fingers at the government’s...
View ArticlePresident mulls next move after House votes on VAT
President Nicos Anastasiades on Friday urged patience as he awaits the attorney general’s opinion on whether bills approved by the House plenary on Thursday regarding VAT on fuel and electricity bills...
View ArticlePresident sends back foreclosure and VAT bills
President Nicos Anastasiades has refused to sign off on and has sent back to parliament three bills passed by the House recently – two relating to VAT on electricity and fuel, the other on extending a...
View ArticleHouse meets after president sends back bills
The House plenary is holding an extraordinary session on Tuesday after President Nicos Anastasiades sent back three bills approved by MPs recently – two relating to VAT on electricity and fuel and the...
View ArticleInflation in July rose 10.9% year-on-year, up 8.23% in first eight months
Inflation increased by 10.9 per cent year on year in July driven by hikes in electricity, which rose 61.7 per cent and fuel 44.1 per cent during the period, the statistical services announced on...
View ArticlePetrol station owners to report Republic to EC over fuel buying in the north
Petrol station owners have threatened to up the stakes in the ongoing fuel row with the north as their legal team on Tuesday said they will report the Republic to the European Commission. The core of...
View ArticleAngry petrol station owners demand government action, compensation over north...
The island’s disgruntled petrol station owners on Wednesday urged the government to intervene over the issue of consumers buying fuel from the occupied territories in the north, and are now seeking...
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