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How much will heating oil cost this winter?

November 1, 2018 at 5:11pm

Heating oil is more expensive now compared to January 2018 prices, the Cyprus Consumer Association found.

Specifically, consumers will pay a total of €153 more to fill a tank 1000 litres today, compared to January 2018. The average price in January 2018 was €0.825 cents and on October 31, 2018 it was €0.978 cents.

Heating oil sales from fuel stations
2016 2017 % (16-17) 2018 % (17-18)
Month Tons Tons   Tons
1st 11278 11651 3.31 8569 26.46
2nd 7389 9298 25.84 6410 -31.06
3rd 4507 5422 20.75 3626 -33.37
4th 2468 2849 15.44 2300 -19.27
5th 2239 2448 9.33 2131 -12.95
6th 2121 2207 4.05 1910 -13.46
7th 1999 2046 2.35 1884 -7.92
8th 1991 2082 4.57 1868 -10.28
9th 2374 2492 4.97 1987 -20.26
Total 36366 10515 11.41 30685 -24.26

The Cyprus Consumer Association also said that:

  • From October 2018 to March 2019, which is the period with the most heating oil consumption, consumers will pay a total of €7,685,678 more if prices remain at current levels.
  • The total amount of oil purchased from the Turkish-occupied north for the period January – September 2018 is calculated at 11,722,874 litres for 95 gasoline and for diesel at 12,022,567 litres.
  • Fuel station owners for the same period are estimated to have lost revenue of €1,310,399.
  • The State is estimated to have lost revenue (taxes and VAT) of €17,444,499.