Transparency Board sets new fuel prices, prices rise

The Transparency Board has published the new fuel prices. Oil has increased by 5 Lek, while gasoline by 2 Lek.

With the decision of August 9, oil was sold for 216 ALL, while today it is 221 ALL/liter. So gasoline went from 200 Lek to 202 Lek/liter.

The decisions of the Transparency Board on August 11, 2022, are the result of the price increase on the Platts Mediterranean stock exchange on August 10, 2022, where gasoline increased by + $23/ton and Gasoil increased by + $45/ton from 08.08.2022

As a result, the prices set are:

✅The retail price of the gasoil by-product of the SSH EN 590 standard should be no more than 221 ALL/liter, while the wholesale price no more than 209 ALL/liter.
✅ The retail price of the SSH EN standard gasoline by-product should be no more than 202 ALL/liter, while the wholesale price no more than 190 ALL/liter.
✅ The retail price of the gas by-product should be 80 ALL/liter retail and 68 ALL/liter wholesale for vehicles.
(Note: the selling price for liquefied gas for vehicles will be the supply price at the supply stations at gas stations, while at other points for household and industrial consumers the price should not include the excise duty).

????The prices set by the Board will come into force today, August 11 at 18.00 pm and will be valid until the next meeting of the board, where the changes in the sales prices will be reflected.

From the beginning, the transparency board has strictly adhered to the movement of the Platts Mediterranean exchange for diesel, gasoline, as well as the official invoices of the operators.

The Ministry of Finance feels the obligation to clarify the public opinion, that not every movement of the crude oil exchange is reflected at the same time and to the same extent in the diesel and gasoline exchange.

We emphasize that the Board does not set the prices of crude oil, but of diesel, gasoline and liquid gas according to the standards defined in the Normative Act.

The Board has only set maximum gross margins for wholesale and retail, with which operators must cover all operating expenses.

So, the decisions taken by the board and the change in sales prices are only related to changes in the Platts Mediterranean stock exchange for diesel and gasoline, not the crude oil stock exchange, as well as movements in the dollar exchange rate.

All other elements that form the price are fixed and the board does not take a decision on these.

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