The Minister of Industry, Entrepreneurship, Trade and Innovation, Mimoza Kusari-Lila, has stated that the increase in fuel prices in Kosovo is unavoidable, as the country is an importer and is directly affected by global developments, particularly the situation in the Middle East. She also said that two companies had violated the decision of MINT, KosovaPress reports.
Regarding oil reserves, the minister said the situation is stable and manageable. Kusari-Lila added that price stabilization is expected in the coming months, especially during the summer.
“The ceiling price or profit margin on fuel is based on the previous day’s price of imported fuel quantities. As imported fuel prices rise, domestic prices also move. This means a wholesale buyer, or importer, can only raise the price above the imported price by 2 cents per liter. For example, if on a given day—like two days ago—the price per liter of imported fuel, in this case oil, was €1.50, it can be sold at most for €1.52 wholesale. Retail prices add another 12 cents above the base price, reaching €1.64,” she said.
Regarding oil reserves, the minister assured that the situation is stable and manageable, dismissing any reason for panic.
She also indicated that fuel prices are expected to stabilize, “especially in the coming months during the summer”.
Meanwhile, the minister reported that the Market Inspectorate identified two companies that violated the decision on fuel prices, which received a first penalty. The second measure would be license withdrawal, but that has not happened.
Any movement in the external market is directly reflected in the domestic market, noting that Kosovo is more sensitive due to the lack of refineries, unlike some neighboring countries, according to her.
“My reaction a few days ago was based on the previous night’s prices, which were also published. The maximum fuel price notification, in this case for derivatives, is 2 cents wholesale, 12 cents retail above the wholesale price. Therefore, current price changes are a direct reflection of the external market increase. As an importing country without refineries, we are more affected than countries like Greece or North Macedonia, which have refineries. Nevertheless, price increases are reflected everywhere, and in Kosovo the impact is direct,” she said.
As a consequence of the war between the US and Israel with Iran, fuel prices have risen for over two weeks to around €1.50 for oil and €1.30 for gasoline.
