After a green light from Minister of Commerce, Industry and Tourism Antonis Paschalides, a Consumer Watchdog Centre will be established, with a view to monitoring and publishing a ‘name and shame’ list on traders offering the highest and lowest prices for petrol and other basic goods.

Regarding the hike in fuel prices observed in certain service stations around Cyprus in February, at a time when international prices are showing a slight decline, Paschalidis said that fuel prices in Cyprus remained at the lowest price possible for a longer period of time while prices were rising elsewhere. He added that he gave instructions to the competent committee of the Ministry of Trade to examine the matter and advise accordingly. "If and where needed, I will issue a decree,” Paschalidis said.