Heating oil gets cheaper as parliament backs excise cut
Excise duty on heating oil drops by 6.39 cents a litre, VAT included, from midnight after lawmakers unanimously passed the government's bill.
Heating oil will cost 6.39 cents a litre less, VAT included, starting from midnight, as reported by Cyprus Mail. The House of Representatives backed the government's proposal on Thursday with a unanimous vote.
The lower rate is set to run through April 30, 2027. According to the House Finance Committee's report to the plenum, the treasury will forgo around €5.2 million.
The move is meant to soften winter costs for households and businesses while Middle East tensions drag on and fuel prices abroad stay high. Finance Minister Makis Keravnos has meanwhile approached Brussels seeking a derogation that would let Cyprus remove the levy on heating oil entirely.
What it means for residents
Anyone who heats with oil should see the difference on the next delivery, though the saving is modest per litre and depends on how much a household burns through the cold months. The relief has an expiry date, so budgeting for winter 2027–28 should not assume it continues.
- Check your next invoice — suppliers should apply the lower duty from midnight, so compare the rate on the bill with the new figure.
- Buy only what you need — with the cut lasting until April 30, 2027, there is no rush to stock up beyond normal winter consumption.
- Watch for a fuller exemption — if Brussels grants the derogation Keravnos requested, the tax could disappear completely, so keep an eye on announcements before ordering.
This text is written from the source article and is not a translation of it.
