The jump in the price of crude oil on the world stock exchange by 25 dollars (in May it cost 19.33 to the current 44.32 per barrel) caused the increase in the price of fuel at gas stations in Serbia by about eight dinars per liter. Gasoline is now refilled 1.10 euros, Eurodiesel for 1.20 euros, while liquefied petroleum gas is 70 cents.
The movement of the average retail price of fuel in Serbia during 2020 has three clearly noticeable changes. The first, during which fuel prices fell. From the beginning of the year, until the middle of May, a liter of gasoline became cheaper by about 20 cents, and Eurodiesel by almost 30 cents. Then, for a month, the prices stagnated and somewhere from the beginning of the second half of June to last week, the price of gasoline and diesel increased by an average of about 0.08 cents- says Tomislav Micovic, Secretary General of the Association of Oil Companies of Serbia.
The price of fuel at gas stations, he adds, is influenced by many factors, and it is difficult to determine precisely to what extent it influenced the movement of prices both up and down.
– The first is a big jump in the price of crude oil, which in a row, from the oil field to the final consumer, contributed the most to the price increase, of course not only in Serbia but also in all other import-dependent countries. The first jump in the price of fuel at gas stations in Serbia was recorded only about two months after the price of crude oil began to rise – says Micovic.
Another factor influencing the jump in prices during July is the increase in excise duties. As a consequence of the harmonization of dinar amounts of excises in relation to the consumer price index in 2019, from July 1, the state duties on gasoline and diesel have been increased by about 10 cents per liter.
– Nothing can surprise more when it comes to the price of black gold. That is why it is difficult to predict more precisely how the prices at the pumps will move. Such dramatic and fast changes on the market of oil and derivatives as in 2020 have happened only a few times in the history of oil exploitation – he points out.
Whenever it comes to the factors that affect the price of fuel, in addition to movements in the global, regional and local markets, it is important to mention the amount of state duties.
– Fiscal seizures currently account for more than 60 percent of the average retail price. I sincerely hope that when creating a new fiscal policy, by which the state will have to provide higher budget revenues next year, there will be opportunities for the Association of Oil Companies of Serbia to convey its views, primarily to point out the impact of high fiscal duties on fuel consumption and the market as a whole – emphasizes Micovic.
A comparative analysis of fuel prices in our country and in the region clearly shows that Eurodiesel is again at the top of the table and is only more expensive in Albania, while gasoline has fallen on the list and is now more expensive than in Serbia in Greece, Albania, Croatia and Montenegro. The cheapest petrol and diesel is still in BiH, where petrol costs 90 cents, and diesel for 91 cents, which means that it is 30-40 cents more expensive in our country, Pravda reports.
