Government decision to end temporary fuel price oversight
The Albanian Government has decided to abolish the fuel price monitoring board, which was introduced earlier this year to oversee developments in the domestic petroleum market. Economy Minister Delina Ibrahimaj said the move follows a recent decline in fuel prices and a period of more stable conditions on international oil markets.
According to the Government, the board was set up as a temporary crisis mechanism. It was introduced in response to market uncertainty connected with geopolitical tensions and developments in the Middle East.
Final meeting and maximum retail prices
The board held its final meeting on 17 June. During that session, maximum retail prices were set at €1.85 per liter for diesel and €1.74 per liter for petrol.
The mechanism had been introduced in March. Its role included monitoring international fuel price movements and setting domestic price ceilings when necessary.
Market stabilization cited for ending the mechanism
With fuel prices falling in recent weeks, the Government concluded that the board is no longer required. It said this decision is linked to stabilization in conditions on the global oil market.
