Christodoulides to announce new energy support measures on Thursday

President Nikos Christodoulides will address the public on Thursday with specific measures to tackle rising energy costs, as the government prepares further interventions to ease pressure on households and businesses.

Speaking to journalists in Lefkara, Christodoulides said the government has been holding a series of meetings to shape its response to the energy crisis, including consultations with the finance ministry.

“Measures exceeding 100 million euros that this government has taken are already underway,” he said, pointing to ongoing efforts to mitigate the impact of rising prices.

While no details were provided on the content of the upcoming measures, the president’s remarks indicate that additional support is being prepared as energy costs continue to affect the wider economy.

The government is expected to outline targeted actions aimed at limiting the burden on consumers while maintaining fiscal stability.

Christodoulides did not elaborate on the structure of the new measures but suggested that preparations are at an advanced stage.

The announcement comes as fuel prices show signs of continued volatility, with industry representatives warning of further increases linked to developments in the Middle East.

Petrol stations association head Savvas Prokopiou previously said consumers should expect fluctuations, with the overall trend remaining upward.

He said that while price movements remain uncertain, a more stable outlook could emerge if crude oil remains below $100 per barrel.

Brent crude was trading at around $103 per barrel on Tuesday, having surged from approximately $65 in recent weeks following the escalation of the US-Israel conflict with Iran.

According to the latest data, the average price of Unleaded-95 petrol stood at €1.498 per litre, with diesel averaging €1.726 per litre.

The increases have been driven in part by concerns over the Iranian blockade of the Strait of Hormuz, a key route for global oil supplies.