Cyprus extends fuel tax cut to August as Iran war keeps energy prices elevated

Cyprus has extended its reduced excise duty on motor fuels by two months to 31 August 2026, as the government moves to shield consumers and businesses from energy prices still running above normal levels in the wake of the Iran war, Government Spokesperson Konstantinos Letymbiotis announced on Wednesday.

The Council of Ministers approved the extension at a fiscal cost of approximately €12 million. The decision was taken in light of a declining trend in energy prices which nonetheless remain...