Now if we look at a chart of the crude oil prices, besides the spike in the summer of 2008 when it went sky-high - 145$/barrel it's been quite stable in the last year, around 80-85$/barrel yet in Cyprus it seems there's no correlation between the price of the raw material (crude) and the refined product that we fill at the gas stations.
If we look at the average earnings here in Cyprus and compare it with the UK, it's easy to see how petrol prices are much more of a burden here, especially when public transport is out of the question.
Am I wrong to assume that the bulk of these price rises have went straight to the fattened wallets of those running the industry here in Cyprus ? Even the government seems to have failed to take them on since they laughed in their face with the weak price-cap attempt.
I wouldn't be surprised if in the next year or so the prices will hit Greece levels or maybe even higher...the sky is the limit
Later edit: I only realized now I posted wrong in the classifieds sections. I'm kindly asking the admin/moderator to move this topic to a more appropriate location.
Thank you
