Cyprus Internet Directory Jobs In Cyprus
  Cyprus Internet Directory Search       
Google Search
  
Cyprus Internet Directory Search
  
Cyprus Comming Events    Cyprus 
Events 
   
Cyprus News Articles    Cyprus News 
and Articles
   
Cyprus Guide    e Guide
to Cyprus
  
Quick Links


By Peter Stevenson MEMBERS of Volunteer Doctors Cyprus have treated around 350 people at their free clinic in Nicosia since it opened three months ago, while two more, one in Paphos and one in Polis are due to open today. Limassol also has a free clinic, which was opened only last month, and plans have been drawn ...
Read More

SOME 10 days ago, foreign minister Ioannis Kasoulides raised expectations by announcing the possibility of a deal with Turkey for the opening of the fenced off area of Famagusta, for the return of its inhabitants. In exchange the Cyprus government would agree to the opening of Tymbou airport to direct flights. ...
Read More

By George Psyllides PRIVATE auditors have expressed doubt the electricity authority (EAC) could be considered a going concern and have asked its board to draft a credible plan to tackle the problem, according to the auditor-general’s 2012 report on the semi-state company. Among other issues, ...
Read More

  
Cyprus Internet Directory [ Fuel prices still artificially high ]

Fuel prices still artificially high

OIL IMPORTERS are keeping fuel prices artificially high, a senior government official insisted yesterday, despite the fact pump prices are set to drop over the next couple of days.

Two companies have already cut euro diesel by about 1.6 cents a litre, and the rest are expected to follow suit today or tomorrow at the latest.

For euro diesel, Petrolina now charges 77.3 cents, down from 78.8 a few days ago; EKO’s price is 77.3 cents compared to 77.9; and Lukoil today is set to cut its price to 77.1 from 78.3.

No price cuts are expected for unleaded 95 petrol, which sells for 79.5 to 79.9 cents a litre.

But Solon Kassinis, head of the Energy Department at the Commerce Ministry, said oil companies were not doing enough.

“The reductions are welcome.but there is still a wide margin for further drops,” Kassinis told state radio.

The Energy Department estimates that the combination of a falling dollar and ship transportation costs allows for a price drop of up to 10 cents a litre for euro diesel.

But oil importers are not playing ball, cutting their prices by only around 4 cents a litre in recent weeks, Kassinis said. The same went for heating fuel.

The official challenged the companies to explain how, citing their own figures, they appeared to be buying fuel from abroad at June 2007 costs, whereas global oil prices have fallen sharply in the meantime.

Kassinis declined to comment on the notion that Commerce Ministry’s price watchdog did not see eye to eye with him.

“All I have to say is that each time I have come out and said that fuel prices are too high, the prices subsequently fall,” he said.

Meanwhile Pambinos Charalambous, head of the association of petrol station owners, denied companies were engaging in illegal price collusion, after a cursory examination indicated that they were all charging nearly identical prices.

He said the similarities could rather be explained by market competition, as one company strived to match another’s pricing.

“In any case, it is the companies that set prices, not us,” he offered.

The Commerce Ministry has long been claiming that the newer stocks of fuel should translate into lower prices at the pump. Oil companies counter that they are still dealing in older shipments.

Asked how frequently shipments are received, one petrol station owner told the Mail:

“We don’t know…they [the companies] don’t tell us these things.”



(Source: Cyprus Mail)
Copyright © Cyprus Mail 2008 Please contact Cyprus Mail for the copyright terms of this article.



Article Options

Email to a friend Email To A Friend     Print Article Print Article     Add Article To Favorites Add Article To Favorites




  

Other Related Articles


Cyprus News Article Submission

If you have an article and you wish to submit it to our database please send us an email. In your email subject quote "Article Submission" and attach the article to the email. To email us Click Here

Cyprus Holiday Villas-Investment Properties

A wide range of holiday villas, investment properties, building plots and apartments in Cyprus for sale by owner. Save money on your holiday villa in Cyprus and enjoy the holiday feeling for ever.