Although belatedly, the Council of Ministers has announced that it will take concrete measures to stabilize fuel prices in the country.
It is learned that in addition to the re-establishment of the Transparency Board, the fuel excise tax has been reduced by 20%.
But, how much does this decrease in value translate into?
Today, the excise tax on fuel excluding VAT is around 40 lek per liter excluding VAT. A 20% reduction in the excise tax means that it will drop to 32 lek per liter excluding VAT, meaning a saving for companies of 8 lek, which should automatically translate into a reduction in the price of fuel by at least 8-10 lek per liter, taking into account the effect of VAT.
Yesterday, oil prices rose by 10-15 lek per liter at major fuel trading points, reaching 2014 lek, the highest level since the Russia-Ukraine war crisis. On the stock exchanges, oil is trading at $100 per barrel.
It seems that after much market monitoring, the government has finally been convinced that prices are expensive. However, compared to countries in the region, the announced measures are delayed.
