Transparency Board sets higher prices for oil.

The price of fuel in the country will increase again. From 216 ALL/litre set a week ago, the board on Saturday decided to sell oil at retail above 223 ALL/litre.

The price of fuel did not change, gas increased by 1 ALL.

“The decisions of the transparency board on September 24, 2022 are the result of the price movement on the Plattes Mediterranean stock exchange, which is due to the increase in oil for two reasons.

1. Scholarship +31 usd ton starting September 15th.
2. Dollar exchange rate from $117.2 to about $120.

As for gasoline, the exchange rate decreased by $26 per ton, but the dollar exchange rate increased by $3 ALL. Therefore, there is no price movement as the decrease in the stock market for oil is offset by the increase in price.

As a result, the set prices are:

– The retail price of SSH EN 590 level fuel product does not exceed 223 ALL/liter and the wholesale price does not exceed 211 ALL/liter.
– The retail price of SSHN regular gasoline by-product is not more than 194 ALL/liter and the wholesale price is not more than 182 ALL/liter.
– The retail price of gas by-product should be 78 ALL/liter retail and 66 ALL/liter wholesale for vehicles.
(Note: The selling price of liquefied gas for vehicles will be the supply price at petrol stations, while the price for household and industrial consumers elsewhere will not include excise tax).

The prices set by the board will come into effect today, September 24 at 18:00, and will remain in force until the next board meeting, when the change in the board’s sales price will be seen.

The transparency board that was created strictly followed Platts Mediterranean’s diesel, fuel, as well as operators’ official receipts in its decisions.

The Ministry of Finance feels obliged to clarify the public opinion that not every move in the crude oil exchange is reflected simultaneously and in the same amount in the diesel and petrol exchanges.

We emphasize that the board has set the price of diesel, petrol and liquefied petroleum gas as per the norms specified in the Normative Act, not crude oil.

The board has set only maximum gross margins for wholesale and retail, whereby operators have to cover all operational costs.
Therefore, the decisions taken by the board and the change in sales price are only related to Platts Mediterranean’s diesel and gasoline exchange and not related to crude oil exchange and dollar exchange rate movements.

All other factors that shape the price are fixed and the board does not decide on these.

The Ministry of Finance and Economy is committed to protecting the interests of Albanian consumers and the principles of fair competition in the market.

As our current situation is not normal, the decisions we make are to respond to the growth of the domestic economy and not to the movement of international markets.

We focus on the obligation of each wholesale and retail operator of oil residues to implement this decision. If violations are found by various operators, the activity will be suspended.

“We are constantly monitoring the progress of the stock exchanges with a view to responding as soon as possible,” the board said.

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