If the price of oil continues its upward trend in the international markets, the companies in Cyprus will impose new increase in the price of oil.

“The new loads will be delivered in the next few days and the price of oil in the international markets will play an important role in the change or not of the tariff policy”, oil companies’ representatives told StockWatch.

On Thursday, the price of oil in New York and London increased sharply. In NYMEX, crude oil to be delivered in June increased by 1.19 dollars to 73.32 dollars.

In London, Brent recorded an increase of 99 cents and closed at 73.43 dollars per barrel.