Fuel Prices Rise 33% y/y
For the first time, the price of diesel is higher than the price of petrol, and the price of heating oil rose over one euro for the first time, said the spokesman. Rising fuel prices have also pushed up inflation in Cyprus, which is hovering at around 3.2 percent, according to March figures.
Retailers have raised their prices in the wake of the civil war in Libya, the fifth-largest oil producing country in the world. Unrest in other Middle-East countries like Egypt has also fueled fears over the stability of oil supplies.