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The Government of Kosovo on Wednesday approved the administrative instruction for regulating the prices of petroleum products and renewable fuels as well as other protective measures.
The Minister of Industry, Entrepreneurship and Trade, Rozeta Hajdari, in her reasoning presented at the government meeting, said that ‘the instruction aims at consumer protection, protection of competition and avoidance of market disorder’.
Minister Hajdari in her reasoning has not set any maximum allowed price for oil nor has she said when this will happen.
Oil prices have risen recently in Kosovo. Currently a liter of oil is priced over 1.91 euros.
Minister Hajdari said that based on the data they have received from the Customs and Tax Administration of Kosovo, it has been noticed that there are discrepancies in prices in Kosovo compared to movements in world markets.
Oilmen in Kosovo on June 9, through a letter addressed to the Prime Minister of Kosovo, Albin Kurti, and the ministers of the economy, demanded that the free market economy be maintained and that the minimum margin (maximum price) be: for wholesale 3 percent and for retail 12 percent.
“Due to the increase in the price of oil on international stock exchanges, today the Government of Kosovo collects about 64 cents from each liter of oil and gasoline sold, or 12 cents more than before the global crisis per liter,” the letter said.
According to oil workers, if the government wants to protect consumers, it must reduce the excise tax and value added tax on oil, as other countries in the region and the European Union have done.
The opposition entity, the Democratic League of Kosovo, and the oil workers have demanded that the excise tax and the Value Added Tax (VAT) be reduced for oil, in order to enable the reduction of prices.
The oil workers had stated that they were in danger of going bankrupt if a similar profit margin was applied, as it had decided for the period March 3-May 31.
The Government of Kosovo on March 1 had decided to set maximum selling prices or wholesale and retail trade margins.
According to this decision, the highest trade margin was up to 4 percent of the sale price, while among retailers the highest margin was at 6 percent.
Oil prices and demand have risen in international markets following Russia’s military intervention in Ukraine.
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