ZCZC
BCN-25
ALBANIA-FUEL-PRICE
Albanian fuel prices highest in Europe: Confederation of Industry
TIRANA, Nov. 19, 2018 (BSS/Xinhua) – Albania ranks among the top 25
countries in the world and the highest in Europe for fuel prices, the
country’s Confederation of Industry announced on Sunday in a statement for
the media.
The Confederation of Industry in Albania expressed the concern about the
increase of fuel price in Albania, although it is decreasing in the
international market.
According to the Confederation of Industry, this occurs because state
institutions have played no regulatory and controlling role.
“In the international markets, the oil price in October dropped by 10
dollars per ton, meanwhile in our country the opposite happened, where fuel
increased by 10 Albanian Leke (about 0.091 U.S. dollars) per liter,” read the
statement.
Moreover, the same downward trend of fuel prices in international markets
is not reflected in the domestic market, which are clear indicators of the
low degree of competition, it noted.
In the 2019 fiscal package, the Confederation has officially asked for the
establishment and functioning of the Fuel Regulatory Entity responsible for
the price ceiling, as well as for the reduction by 50 percent in the turnover
tax, which has today reached the amount of 120 million euros per year (about
130 million U.S. dollars).
BSS/XINHUA/HR/1450