Cyprus fuel prices decline, Commerce Minister says

Minister of Commerce, Industry and Tourism Antonis Paschalides has said that the gradual decline in oil prices internationally has resulted in a drop in the price of fuel, electricity, gas and other products in Cyprus.
Speaking at Larnaca airport, Paschalides noted that oil companies have been decreasing their prices since July 14, when oil prices started to decline.
He explained that government officials operate throughout the southern government controlled part of the country to monitor prices at petrol stations and see which stations comply with the prices proposed by oil companies.
Responding to questions, the Minister said that the price of petrol (95 octane) has decreased since July by 6 to 7.5 cents approximately while diesel fuel, heating oil and oil for agricultural purposes have also come down in price.
The Minister expects oil prices to drop even further due to competition and new orders of oil companies expect to receive.
He also said that the decline in oil prices will be followed by a decrease in the price of gas, electricity and other products.