Fuel VAT unchanged for now, government says
Minister Gordana Dimitrievska Kochoska says VAT will remain unchanged for now while the government monitors volatile oil markets.
Oil on world markets hit a new record yesterday after a deterioration in ties between Iran and the United Arab Emirates, but North Macedonian authorities say they do not intend to change the VAT on fuels for now.
Finance Minister Gordana Dimitrievska Kochoska said the government is monitoring developments but currently has no plans to lower the value-added tax on petrol and diesel.
Gordana Dimitrievska Kochoska, Minister of Finance, said: "At this moment we have no such plans. But that does not mean it cannot change. We are monitoring the situation, we will see how it develops and will take decisions at government sessions."
Regulator raised retail pump prices for seven days
On Monday the Energy Regulatory Commission decided to raise fuel prices in the country; the increases are effective for seven days. Petrol prices were increased by 4.5 denars and diesel by 2 denars.
The regulator tied the latest adjustment to the turbulent movements of oil in the days leading up to its decision. Officials warn that the same volatility could result in another rise next Monday if the situation in the Middle East does not experience a turnaround.
Photo: press material from the event
