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North Macedonia lowers the price of oil again, Albania the most expensive in the region

Politiko 2024-11-05 15:47:51

North Macedonia lowers the price of oil again, Albania the most expensive in the

North Macedonia has reduced the price of oil again, selling it for 120 ALL per liter. Among the countries in the region, Albania has the highest price, with 175 ALL per liter. Although the price of oil has fallen on the stock market, this decrease is not yet reflected in the Albanian markets.

50 euros is enough to fill up a car tank with diesel in North Macedonia. With 3075 denars, or 4920 lek, you can get a full 44.8 liters of diesel.

Although oil derivatives experienced a drastic increase during the pandemic and the reduction in prices is not large, North Macedonia still has the lowest price in the region.

In Albania, citizens pay more for a liter of diesel, where the price goes to 1.8 euros. After it come the citizens of Slovenia and Croatia, with respectively 1.50 euros per liter and 1.45 euros per liter.

Although North Macedonia has the lowest price in the region, for the economy expert, Abil Baush, these prices do not match the large reduction of oil in the global markets.

 "During the pandemic, the Oil and Energy Derivatives Regulatory Commission started making calculations on a daily basis. The calculations that are made in the world markets were applied on a daily basis and in daily units. Just as the price of oil derivatives 'floats', which at the moment in global markets is extremely low and falling, even though we are in a period when prices would normally increase, due to war and global crises, the calculation is made according to these conditions", declares the economy expert Abil Baushi.

The price in North Macedonia consists of the commercial margin, compensation for the financing of environmental activities, compensation for mandatory oil reserves, as well as excise duty. For each liter of oil, these taxes and fees cost citizens 15.83 denars or 25.33 allek.

According to Professor Baush, further price reductions are expected by the end of the year.

"Until the end of the year, we can have a slight decrease in prices and some kind of stability in oil derivatives, as the major markets have stabilized production after the Russian influence on the oil markets," said the expert.

In addition to the reduction in the price of oil, there was also a significant reduction in the price of gasoline. The price of gasoline was reduced by 1.5 denars and one liter costs 75.50 denars or 120.83 allek./Euronews Albania

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