News Local Fuel prices to be online submitted

Fuel prices to be online submitted

Ministry of Energy will launch an online platform in less than a month that will update fuel prices at all petrol stations in Cyprus in real time. 
More specifically, it is stated that Minister of Energy, George Lakkotrypis, is about to publish to Cyprus Government Gazette the decision for the platform’s activation, subject to Legal Service’s advices. 
More specifically, the Ministry of Energy will be electronically updated every time the fuel prices in stations are changing, either up or down.
Stations’ computer systems would inform the pumps about the prices per liter, while, at the same time, they would inform Ministry’s system.
The Ministry of Energy will automatically post the fuel prices on its website.
Therefore, consumers would be able to know immediately which fuel station is cheaper.
The Ministry, by going a step further, would also develop a smartphone application which would indicate the nearest and cheapest fuel station.
The Ministry of Energy has been working on any possible options for some time, due to make the fuel pricing process more transparent. 
Meanwhile, the Ministry has published a weekly newsletter which records fuel’s purchase price at the wholesale market, taxes and market prices for each fuel type.
Source: InBusiness