Petrol station owners said on Monday they anticipate a drop in fuel prices at the pump by the end of the month, provided however that the global price of oil continues to ease off.

Spokesman for the petrol station owners’ association, Christodoulos Christodoulou complained that people have by and large stopped filling up the tank.

“They might spend 20, 30, 40 euros, then come back again. Very few fill up.”

At the same time, he said, many motorists travel to the north to buy petrol, where it’s cheaper.

He called this “a very serious issue”.

According to Christodoulou, since mid-July petrol has gone up by 12 cents a litre, diesel by 19 cents, and heating fuel by 10 cents.

At the moment, Unleaded 95 averages at €1.60 a litre, diesel €1.79, and heating fuel €1.49.

Whereas crude oil prices are falling, this doesn’t translate into corresponding decreases at the pump.

Christodoulou surmised this is likely because current prices at the pump reflect shipments when oil was at $95 to $97 a barrel.

“We anticipate decreases, provided that prices will stabilise downward.”

Asked when new fuel shipments are expected, Christodoulou said this is up to importers. Usually new shipments come in every two weeks.

“So logically, by the end of the month we should have price reductions.”

On Monday, Brent crude traded for around $85 a barrel; three days earlier it went for $79.

Brent crude is widely used to make petrol, as well as diesel and jet fuel.

Uncertainty over the Strait of Hormuz continued to support prices. Iran and Oman have yet to finalise an agreement to reopen the strategic waterway, while conflicting signals from Tehran and Washington have raised doubts over how quickly a deal could be reached.