The petrol price increases introduced today were exorbitant, and the steepest since prices started to fluctuate according to international movements, the Labour Party said in a statement this afternoon.

"These increases are exorbitant and will mean a heavier burden on households and industry."

It said the Gonzi government had not learnt the lesson of the June 6 elections and was continuing to ignore the plight of families already battling record inflation.

Local petrol prices were 21% higher than in Cyprus and diesel was 14% more expensive, the PL observed. Even kerosene prices, which were reduced today, were still 34% higher than in Cyprus.

The Labour Party asked what had become of the government's intention to bring diesel and kerosene prices on a par, to deter abuses.

It also asked what the regulator was doing.

It said the people had not benefited when oil prices dropped, but local prices went up immediately international prices started moving upwards.