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Saturday, July 2, 2022

Assessment of selling fuel prices to change

At the time when the relevant authorities are seeking ways to reduce the consumers’ energy cost and a discussion is in progress in Parliament to simplify the process of imposing a ceiling to the selling price of fuel, the Consumer Protection Service of the Energy Ministry provided to the Parliament the requested details about a new formula that will check and evaluate fuel prices.

According to a letter by the Director of the Consumer Protection Service, the Energy Ministry proceeded with the purchase of services to provide a new methodology and computerized framework to evaluate prices, due to the important changes from moving liquid fuel installations from Larnaca to Vassiliko.

The company that undertook the new framework is G.D Positive. The system has been delivered to the Ministry and so far it is being tested.

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