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Why do we need a strong lek when it can't lower the price of oil?

2026-09-16 09:38:18Pikëpamje SHKRUAR NGA RILDO NGJELA
Why do we need a strong lek when it can't lower the price of oil?
Rildo Ngjela

The lek is increasing.

Along with it, oil.

The Euro and the Dollar hit new records, certainly downwards.

It is noteworthy that the Lek is gaining momentum.

Certainly, rising oil prices on international stock exchanges explain this result, but the calculation of how the price appears on the charts remains a mystery.

FACT: On June 19, when the Transparency Board ceased operations, oil cost 176 lek and gasoline 166. In less than three months, both increased by 53 lek or 30% more.

We are currently facing a new price without a ceiling or official calculation that separates international quotations, exchange rates, taxes, import costs, and company margins.

We were promised that whenever the price reached 200 lek per liter, the Board would intervene. On July 22, the price went to 206 lek per liter. Then it decreased to 199 until August 5 and increased to 215 lek on August 14. This increase continued until today when we reached 229 lek per liter. For 33 consecutive days, the price of oil has remained above 200 lek per liter. These 33 uninterrupted days demand an answer.

Silence!

Since there is no signal from the Board for revival, what is the Competition Authority doing? I don't know if they have also noticed that the largest fuel retail chains have fixed the price at 229 lek per liter. I think this is a signal that requires a review of import invoices, delivery dates, inventories, contracts and margins of companies during the time of price changes. Every citizen would be grateful if the Authority would launch an investigation into this matter. Or at least a check related to the coordination of prices between companies. In March, it announced that it was monitoring fuel companies and that was it. Six months later, we have no report or conclusion. No communication. So far, they are presenting themselves as an uninterested spectator who is represented only by offices and buildings.

So much for institutional mechanisms.

Another body that can cry out to the citizens is the opposition. The opposition has spoken. On April 3. Since then, this problem has been mentioned as a peripheral problem between the lines of statements and through the teeth during television debates, which repeated the same proposals they made in April.

Fjasko here too.

This brings us back to the question that continues to be avoided: what good is a strong Lek if its benefits never reach the gas pump?

Exporters get less lek for every euro earned, while families relying on remittances get less lek for every euro sent home. Drivers continue to pay 229 lek per liter. The government celebrates the exchange rate as evidence of economic strength, while no one is saying who benefits from the advantage created by this rate. When this advantage is absorbed by taxes, unexplained margins and institutional inaction, the strong lek is transformed into an official statistic with little value to the citizen. Until the full price formula is published and the Competition Authority accounts for six months of silent monitoring, the price displayed at the pump will remain the clearest judgment of citizens on the real economic value of Albania’s hard currency.


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