Cyprus Business Now: tourism, fuel, banks, shipping, Keravnos, CIBA, Syprodat

International market turbulence is keeping pressure on fuel prices in Cyprus, even as oil eased on Tuesday after surging to its highest level in more than three years a day earlier.

Data from the consumer protection service showed fuel prices in Cyprus rose by between 2.6 cents and 4.7 cents per litre over the past 10 days, depending on the type of fuel.

But the sharper increase may still be ahead, as the recent spike in crude prices has yet to fully pass through to the retail market.