In June 2026, Cyprus' petroleum products market delivered mixed results. According to the Statistical Service of Cyprus, total petroleum product sales reached 129,479 tonnes, down 8% compared to June 2025. However, sales increased by 1.5% compared to May 2026, and the market remains in positive territory for the first six months of the year overall.
Why Fuel Sales Declined
The overall decline was mainly driven by lower sales of aviation fuel, marine fuel, and several other petroleum products. Compared with June 2025, the following changes were recorded:
- marine fuel deliveries fell by 14.1%;
- aviation fuel deliveries declined by 13.7%;
- kerosene sales dropped by 51%;
- light fuel oil sales decreased by 44.2%;
- heating fuel sales fell by 16.8%;
- bitumen sales declined by 12.2%;
- diesel fuel sales decreased by 2.4%.
At the same time, several products posted positive growth:
- heavy fuel oil sales increased by 74.8%;
- gasoline sales rose by 1.8%.
Sales through filling stations totaled 59,271 tonnes, 1.4% lower than a year earlier. Experts note that fluctuations in demand for aviation and marine fuel are often linked to seasonal transport activity, shipping schedules, and changes in international logistics volumes.
June Outperformed May
Compared with the previous month, the picture was considerably more encouraging. Relative to May 2026:
- total petroleum product sales increased by 1.5%;
- aviation fuel deliveries rose by 6.1%;
- marine fuel deliveries increased by 5.9%;
- diesel fuel sales grew by 5.6%;
- gasoline sales increased by 4.5%.
At the same time, petroleum product inventories on the island were 19.6% lower at the end of June than a month earlier. This may be due to increased use of reserves at the start of the summer tourist season.
What the First Half of 2026 Shows
Despite weaker year-on-year figures for June, the market remains stable overall. From January to June 2026, total petroleum product sales in Cyprus increased by 1.2% compared with the same period in 2025.
Growth in domestic demand continues to be supported by rising tourist arrivals, strong business activity, and sustained road transport volumes. At the same time, specialists note that global oil prices, shipping costs, and geopolitical developments continue to have a significant impact on the country's fuel consumption patterns.
What It Means for the Cyprus Economy
The fuel market remains one of the key indicators of the country's economic activity. Sales trends reflect conditions in the transport sector, tourism, construction, and industry. Despite temporary declines in certain segments, the first-half results point to continued solid demand for petroleum products.
During the second half of 2026, the market could be further influenced by the peak tourist season, changes in global energy prices, and the gradual expansion of renewable energy. Nevertheless, petroleum products are expected to remain an essential part of Cyprus' energy mix for many years, despite the country's growing investments in solar power and electricity storage systems.
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