Fuel prices have increased again at retail outlets in Tirana.
As of yesterday afternoon, the price of diesel has reached 219 lek per liter, up from 215 lek previously. The price of diesel has increased by 4 lek per liter.
There has also been a significant increase in the price of gasoline. From 198 lek per liter, it has reached 2025 lek per liter. The increase in gasoline is 7 lek per liter.
The increase in oil prices has reflected price fluctuations on foreign stock exchanges.
The Platts oil price on foreign exchanges, which serves as the basis for calculating customs clearance and domestic prices, has reached 1,450 USD/Ton from 1,300 USD/Ton about 5 days ago.
Domestic importers predict that if the escalation of the war continues, wholesale oil prices will continue to rise. In this situation, according to them, the only measure that would contain prices is a reduction in oil taxes.
Even according to foreign media analyses, oil prices rose to their highest levels in three weeks on Thursday, driven by concerns and the stalemate over the war in Iran, which will continue to disrupt supplies from the main oil-producing region in the Middle East.
For foreign market analysts, the main concern is Hormuz. If the strait remains blocked or the conflict escalates, the Platts oil price could reach as high as $2,000 per ton.
The oil market remains centered on the Strait of Hormuz, through which about a fifth of global oil and liquefied natural gas (LNG) supplies passed before the US-Israeli war against Iran began in late February.
Also, the rise of Brent above $91 per barrel indicates that traders are calculating a higher risk premium.
Meanwhile, oil shipments from Russia's western ports have fallen to about 2.3 million barrels per day during the first half of August, 15% less than the initial loading plan, due to disruptions at the Black Sea port of Novorossiysk./Monitor.al/
