Minister of Industry, Entrepreneurship, Trade and Innovation, Mimoza Kusari-Lila, believes that oil price stabilization will continue in the coming days following the agreement on a two-week ceasefire between the United States and Iran.
Kusari-Lila said that the existing mechanism for setting the maximum allowed prices of oil derivatives will not allow prices to exceed the defined threshold.
“I hope that the stabilization of oil and fuel prices will continue in the coming days, and this will depend on the circumstances in the Middle East. It is very important that our mechanism so far has produced results, perhaps not at a 100% level, there have been price fluctuations, but still, in a situation where we will have free circulation in the Strait of Hormuz and no impact on supply or prices on international markets, then in Kosovo the margin-based pricing mechanism will also be removed. However, more than a day is needed to determine whether we have truly entered a normal situation or whether there is still room for instability. We receive information twice a day on the import prices of oil and its derivatives, which is why we have the margin mechanism that will not allow prices to exceed the defined limit,” she said.The Minister of Trade, Kusari-Lila, said that in the current situation they are exploring possibilities of intervention in the transport and agriculture sectors.
“We consider that currently, in the situation we are in, the sector has functioned properly and prices have not reached extremes despite movements on international markets. We are considering the possibility of intervening in the transport and agriculture sectors as two sectors that affect the most vulnerable categories, while for sectors that still have the capacity to operate without interruption, that remains to be seen in another circumstance,” she stated. The United States and Iran have agreed on a two-week ceasefire that also enables movement through the Strait of Hormuz.
