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The price of oil on the world market is falling significantly, only in Albania they haven't noticed it yet

2026-08-27 13:31:52Biznes SHKRUAR NGA REDAKSIA VOX

The price of oil on the world market is falling significantly, only in Albania

Oil prices on the world market have suffered a significant decline this morning, as markets hoped for improved supplies from the Middle East.

Foreign media reports indicate that this move comes shortly after Iran and Oman reached an agreement on commercial shipping routes through the Strait of Hormuz, although Tehran warned that an agreement may not include an immediate reopening of the passage.

Brent crude futures fell 0.4% to $87.50 a barrel, while West Texas Intermediate crude futures fell 0.4% to $81.89 a barrel.

Brent and WTI oil futures contracts fell by over 6% each this week, as optimism over a possible Hormuz deal was largely overshadowed by the ongoing US-Iran disputes.

On the other hand, the US reportedly imposed stricter economic sanctions on Iran earlier this week and also warned countries against doing business with Iran.  

Recent reports have highlighted a possible improvement in US-Iran relations. Russian state media reported that the two sides had reached a new ceasefire agreement that would be announced in the coming days.

Meanwhile, it is learned that the Montenegrin government has decided to further reduce excise duties on gasoline and diesel, to mitigate the impact of rising fuel prices in the domestic market. The new measures came into effect on August 25 and will be valid until September 5.

From August 25, a liter of diesel will be sold for 1.87 euros, 1 cent less than before. Meanwhile, Eurosuper 98 gasoline will cost 1.79 euros per liter, also 1 cent less.

However, the situation is different for Albania, as since the beginning of this month, oil continues to be traded at more than 215 lek per liter. In fact, in many points, oil is sold at 219 lek per liter.  


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