Cypriot lawmakers discuss itemised fuel prices on receipts — Cyprus Mail

In Cyprus, lawmakers discussed a bill that would require petrol stations to issue customers receipts itemising taxes, contributions and charges included in the price of fuel. The initiative is intended to make price formation more transparent, Cyprus Mail reports.

What the initiative provides for

The bill was submitted by DISY MP Nikos Georgiou. Under his proposal, consumers would be able to see which part of the price of each litre accounts for the cost of the product and which part goes towards taxes, contributions and other payments.

Georgiou said that amid rising living costs for households and businesses, consumer awareness is a prerequisite for transparency, oversight and trust. At the same time, he acknowledged that the initiative itself would not be a “magic solution” and would not reduce fuel prices.

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Reactions and fuel prices

According to Georgiou, itemised receipts would help track billing and enable authorities to monitor the market more effectively. DIKO MP Adamos Aspris said that the proposal raises a number of practical questions.

Alma MP Irini Charalambidou supported the idea. According to her, after filling up a car, a person would know how much of the fuel price goes to the state and how much goes to businesses.

At the end of October, the consumer protection service said that dozens of petrol stations had not immediately or fully reflected in their prices the reduction in the state tax on heating fuel. In early September, the government extended until the end of November the reduced excise duty rate on petrol and diesel fuel — by 8.33 euro cents per litre. On Tuesday, the average retail price of Unleaded 95 petrol was €1.713 per litre, while diesel cost €2.002.