The Minister of Industry, Entrepreneurship, Trade and Innovation, Mimoza Kusari-Lila, has stated that the increase in fuel prices in Kosovo is inevitable, as Kosovo is an importing country and is directly affected by global developments, especially the situation in the Middle East.
She said that the Market Inspectorate had two companies that violated the Ministry's decision on profit margin.
"There were two companies that violated our decision and the Inspectorate informed me about the two companies, which have the first measure of a fine, the second measure of the withdrawal of the license. It has not come to the second measure. This means that they have stopped at the punishment, namely the first reaction of the Market Inspectorate," she stated.
Kusari-Lila added that a stabilization of prices is expected in the coming months, especially during the summer.
"Of course, the measure taken is about keeping it under control, but control within this space where the price is being shown to be moving, but not beyond the unimaginable or to an extent where it could have a very serious impact for the worse. It could also take a period of time until there is stability. Here we are not actors, we are consumers of the circumstances that are happening there. But we are hoping that there will be stability as soon as possible. It is expected in the coming months, especially in the summer period, that there will be price stability," she said, KP reports.
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Kusari-Lila: Fuel prices are stabilizing, the margin decision remains in effect until July 4
Regarding oil reserves, Kusari-Lila said that the situation is stable and manageable.
"As information, it is information that remains for the institutions, but the situation is stable with the reserves, I can say. In relation to the reserves of importers, namely the companies that deal with the trading of derivatives, we are also monitoring the reserves. There is no movement, there is no decrease in their reserves. This means that it is still a manageable situation and far from a panic situation. There have been countries, such as the United States of America, that have released part of the state reserve. We have not reached that point. Our industry and economy are not at a level that is greatly endangered. However, I must say that the further impact of what is happening in the Middle East with the reflection in the price of derivatives is inevitable", said Kusari-Lila in a statement to the media after holding a workshop organized by the Ministry and CEFTA.
She added that any movement in the external market is directly reflected in the internal market, emphasizing that Kosovo is more sensitive due to the lack of refineries, unlike some countries in the region.
As a result of the war between the US and Israel with Iran, fuel prices have also increased for more than two weeks.
The price of diesel in the retail market in Kosovo reached 1.60 euros per liter on Monday.
According to the chairman of the Oil Workers' Association, Fadil Berjani, oil prices, depending on the companies, range from 1.53 to 1.60 euros per liter, while gasoline prices range from 1.34 to 1.38 euros per liter. According to him, the wholesale price of oil on Monday was 1.54 euros per liter.
On March 5, the decision of the Ministry of Trade, Industry and Entrepreneurship (MINT) to set the trade margin entered into force.
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Kusari-Lila says she expects oil prices to stabilize in the coming days
The decision sets a profit margin of 2 cents for wholesale sales and 12 cents for retail sales.
Global oil prices have risen sharply following Iran's attacks on other countries in the Middle East, in response to attacks by the US and Israel.
