Cyprus fuel subsidy fell short at the pump

Some of the substance subsidy the Cypriot authorities introduced to easiness the load of rising prices got siphoned distant from consumers, who did not afloat payment from the inaugural astatine the pump, according to findings from the Cyprus Consumers Association.

The subsidy, amounting to 8.33 cents per liter, went into effect Saturday, April 4, and is scheduled to tally done the extremity of June. It was portion of a bundle of measures approved by the Council of Ministers to support households facing steep substance outgo increases. However, the relation argues that not each of this payment reached drivers, claiming that a information was retained by substance retailers without justification.

The relation tracked substance prices crossed stations nationwide from precocious evening connected Friday done the greeting of Saturday, signaling updates each 30 minutes. Based connected the policy, prices should person dropped by the afloat subsidy magnitude instantly aft midnight.

Their investigation connected diesel prices utilizing authoritative information showed mixed compliance: By 8 a.m., 19 stations had not reduced prices astatine all. Another 97 applied smaller cuts, while 67 reduced prices slightly supra the subsidy.