While tensions in the Middle East have begun to immediately reflect on the energy and fuel markets in the region, the Kosovo government has decided to intervene directly in the market to curb the increase in oil prices. At the same time, in Albania there is still no official reaction to the impact of the crisis on the domestic market, apart from some advice from the Ministry of Foreign Affairs for Albanian citizens who are in the Middle East.
The Minister of Industry, Entrepreneurship, Trade and Innovation in Kosovo, Mimoza Kusari-Lila, has signed the decision to set maximum profit margins for operators trading petroleum products. The decision comes after the sudden increase in fuel prices in the local market, linked to recent developments in the Middle East.
According to the minister, the intervention was considered necessary to protect consumers and guarantee fair competition in the market.
"The decision comes after continuous monitoring of the oil market, analysis of daily records from Kosovo Customs and reports from the Central Inspectorate for Market Surveillance, where it was found that price increases from imports were immediately reflected in sales prices," declared Kusari-Lila.
With the new decision, the maximum allowed profit margin for economic operators has been set: up to 2 euro cents per liter for wholesale sales and up to 12 euro cents per liter for retail sales.
The authorities in Kosovo have also announced on-site inspections to monitor the implementation of the decision and ensure compliance with the established margins. Any violations will be dealt with according to the legislation in force.
In Tirana, meanwhile, despite the successive developments in the Middle East and the impact that these crises usually have on energy and fuel prices, there is still no official position on the domestic market. So far, the only institutional reaction has come from the Competition Authority, which has announced on-site inspections, although previous cases have shown that these inspections have not prevented price increases. The government, which is the authority that can really intervene in this situation, has been content only with the announcements of the Ministry for Europe and Foreign Affairs, which has advised Albanian citizens in the conflict region to be careful.
So while one government is trying to rein in prices at the pump, another appears to be monitoring the situation… from a distance.
