Consumers cry foul over unjustified fuel price hikes

THE consumer association on Thursday called for a cap on fuel prices to end the uncontrolled and unjustified price increases.

In a statement, the association expressed indignation at the rapidly increasing fuel prices “without any explanation about the reason this is happening.”

The association said fuel arrived in Cyprus every 15 days and that was the time when pump prices could change. And companies had reserves they had to go through before changing the price.

“It seems that these only apply when prices drop, since, today, when we are talking about increases, there is no waiting time and of course all the blame will be placed on refineries, whose prices only a few can access,” the statement said.

Pump prices have gone up by over €0.05 per litre, the association said.

It was a repeat of the same story, all those involved passing the buck “and we the consumers having to pay the higher prices, without even knowing whether they are justified or not.”

The association said an end must be put to the phenomenon and officials must explain to consumers why they are paying unjustified rises.

“The minister must investigate the matter and impose a plafond,” it said.

Consumers said transparency was important in helping the fuel market operate in an environment of real competition and parliament must play the role the public expects it to play.