Transparency Board decides to reduce fuel prices

The Transparency Board decided this Thursday to reduce fuel prices in the country, reflecting movements on the Platts Mediterranean international exchange.

According to the official announcement, in international markets, the price of gasoline has decreased by $3.35 per ton and that of diesel by $7.1 per ton compared to March 25.

As a result, the Board has set new ceiling prices for the domestic market:

The retail price of diesel (SSH EN 590 standard) must not exceed 203 lek per liter, while the wholesale price must not exceed 191 lek per liter.

The retail price of gasoline should not exceed 175 lek per liter, while the wholesale price should not exceed 163 lek per liter.

The decision will enter into force today, March 26, at 6:30 PM and will remain in force until the next Board meeting.

Authorities emphasize that the Transparency Board does not determine the price of crude oil, but only the prices of by-products such as diesel, gasoline and liquefied gas, based on the movements of the Mediterranean stock exchange and the dollar exchange rate.

It is also noted that the institution only sets maximum profit margins for operators, while other price elements remain unchanged.

The Ministry of Economy and Innovation, in cooperation with the Ministry of Finance and the Ministry of Infrastructure and Energy, declares that it is committed to protecting consumers and guaranteeing fair competition in the market.

Meanwhile, fuel trading operators are warned to strictly enforce the decision. In case of violations, the authorities announce that the suspension of activity will be applied.

The institutions add that they are constantly monitoring international markets, in order to react in a timely manner to any further price changes.

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