So finally oil prices are back to pre-war levels [https://i.imgur.com/eL7X6He.png](https://i.imgur.com/eL7X6He.png)
At the pump, the prices have not fallen, they have been stable since early June when the oil prices started crashing. Currently the retailers are absorbing the profit margin for as long as they can. But not just the profit margin, they also benefit from the taxes that the Government removed when the prices were going up.
In these cases, the only thing that can bring prices back down is competition. And it’s up to you. Pick and go to the cheapest retailer until the others take notice. If they don’t get as many customers, they will start competing on prices again.
6 comments
https://tradingeconomics.com/cyprus/gasoline-prices
Here is the historical price for whole year. 1.4euro sounds like a dream now
The prices the retailers have are because that’s the price their latest stock is. When they run out of the expensive stock they will order with the new cheaper prices.
Don’t dream until the end of the year.
That’s what I do most of the time.
Would not buy from the expensive ones.
Only in an emergency, I put 10 euro to reach the cheaper ones.
Any difference matters.
Still cheaper 95octane is at €1.755 so not so cheap yet
From my almost 20-year experience in Cyprus, here’s how this works:
– if oil goes up, all petrol stations put higher prices up the same day, “because oil got more expensive”;
– if oil goes down, all petrol stations delay putting lower prices for about 2-3 weeks, “because our last shipment was more expensive”.
You may wonder why the cheaper cost of the last shipment doesn’t prevent prices from going up the same day. The answer is simple: greed. It is customary for petrol stations in Cyprus to fuck their customers using every opportunity to do so. This is the truth, even if it hurts.