Diesel up 5.5 denars, 95-octane petrol down 1.5 denars — fuel prices on tomorrow’s government agenda

From midnight fuel retailers will apply new prices: diesel will rise by five and a half denars to 104.5 denars per litre, while unleaded 95-octane petrol will be cheaper by 1.5 denars at 99 denars. 98-octane petrol will be sold at 101 denars.

Extra light fuel also goes up by five denars and will cost 114.5 denars. To ease the price shock for consumers the Government has one active measure in place — a cut of VAT from 18 to 10 percent. Authorities say there were no talks last week about introducing additional measures, nor was OKTA contacted about any special discount as had happened in an earlier period. Fuel prices are expected to be one of the agenda items at tomorrow's government session.

“We lowered VAT to 10 percent. We are discussing, watching and will consult at the Government level. We have a government on Tuesday, we'll see how to proceed. We will have to review what the fiscal implications on the budget are. As you know, there may be other reductions. That exists as a measure, the Ministry of Finance makes the fiscal measures and brings them together to the Government. We have not started, however if the situation escalates further, we will take all measures to mitigate the risk to citizens,” said Sanja Bozhinovska, minister of energy.

Why world oil prices eased

Global crude dropped to its lowest level in about ten days after growing hopes that diplomatic efforts at the United Nations General Assembly could open a path to de‑escalation in the conflict with Iran and following a partial recovery of Saudi supplies through the Strait of Hormuz, where daily flows reportedly averaged up to 2.9 million barrels compared with roughly 700,000 barrels in August.

Brent futures fell by $2.16, or 2.08 percent, to $101.71 a barrel, while U.S. crude (WTI) lost $2.15, or 2.14 percent, to $98.15 a barrel.

By Ognen Chancharevic

Photo: press material from the event