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Yiorgos Lakkortypis: Cyprus The 5th Cheapest In EU For Gasoline Despite Slight Increase
January 23, 2020
Despite an increase in the price of gasoline, Cyprus remains in the 5th place of EU countries with the cheapest gasoline, Energy Minister Yiorgos Lakkortypis said on Tuesday. He was speaking after briefing the House Committee on Energy about the country’s progress in implementing renewable energy commitments in transportation, the CNA reported.
Cyprus is obliged to secure 10% of RES in transportation by the end of this year, in line with a goal set in 2009. According to the Energy Ministry, the main way to achieve this is by increasing the levels of certified biofuels in the mix, which, however, are more expensive due to higher production cost. Consumers are expected to pay up to 2.5 cents more for gasoline per liter.