Cyprus and Greece buy fuel from the same refineries, but in our country the prices are much higher. Why;
Looking at its prices gasoline 95 octane and his diesel fuel, we see that their prices in Greece is much higher from those we meet in Cyprus. The paradox is that both one market and the other are powered by the same refineries. Since the transfer to Cyprus entails additional costs, one would expect the situation to be reversed.
Looking for prices, we found that in GREECE the average value of unleaded 95 of octane on 10 March according to the Ministry of Development is formed at 2,082 euro / liter, while in Cyprus at 1,403 euro / liter.
The corresponding values for oil traffic is on 1,936 euro / liter and 1,511 euro / liter, with our country having it here as well negative first.
Seeing the situation, Well, one reasonably wonders why is this happening. The answer is that taxation is responsible for everything, which in the Greek market is very large.
Cyprus made a very important decision a few days ago. Reduce excise duty fuel at the lowest point allowed by European legislation. This is the 0,36 euro / liter for petrol and 0,33 euro / liter for oil. In fact, took this action despite the fact that this tax was already among the lowest in the European Union (before the change, in gasoline was 0,43 euro / liter).
In addition to the reduction in excise duty, Cyprus also has lower VAT. in fuel, which further widens the difference in the final price in relation to our country. This is configured in 16%, against him 24% imposed by the Greek tax system.
In contrary, The only measure against the rise in fuel prices in Greece is profit ceiling. However, since the profit of the gas station owners is just 5-6 euro cents / liter, the specific move it can not and will not bring any result. We hope that something similar will happen in Greece with Cyprus, maybe we will see fuel prices go down.
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