Government expected to decide today to regulate oil derivative prices

According to the agenda published in the media, one of the points of today's executive meeting is also “Reviewing the Administrative Guide Project for Adjusting Oil Products and Renewable Fuels Prices and other Protection Measures (MINT). ”

The Oil Association has come up against the Government's warned decision to regulate the prices of derivatives in the country, under which restrictions are put on oil profits.

In a letter that oilmen's head, Fadil Behrani has sent to Prime Minister Albin Kurti and Mysteries has demanded a reduction in excise and T V Oil products department. He has also warned of closing the derivative pumps across the country if their demands are taken into account.

Beryan has suggested that Kurti government react like the governments of the countries of the region, taking these actions.

“The government, if it is really interested in protecting the consumer, would be expected to respond equally to the governments of the countries of the region and the EU via lower excise and/or T/or T V State of oil products”, says the letter providing T7.

According to Berjan, limiting the profit margin will have devastating effects on oil companies.

“The oil industry due to overall inflation is only facing economic growth of both wages, interest rates, maintenance spending, etc. This combined with profit margin restrictions will have devastating effects on oil companies”, the document says.

And if these demands are taken into account, Behrani has proposed that the margins be assigned this way: Sale by 3 per cent and retail sale 12 per cent.

The first of the oilmen has said that if the demands are in mind, they are obliged to take other measures to protect oil companies.

He has said they will appeal the decision on March 1st 2022 to compensate for the losses caused by this decision, appeal of the new decision, if taken by ignoring their demands and closing the derivative points across the country in order to avoid bankruptcy.

Otherwise, after the price of derivatives in the country reached a record level, the Ministry of Industry, Trade and Trade has reacted.

From this, the minister has said they are working on the new decision to regulate oil prices “that will protect consumers and competition under law”.

The ministry of industry, entrepreneurship and trade is working on the new decision to regulate oil prices that will protect consumers and competition by law.

The new oil law envisions that the government issues a sublegal act for regulating oil prices and other safeguard clauses”, the announcement said.

According to MINT, the location is expected to take place soon. They say the draft is already ready and that it is working to proceed as soon as possible for approval in Government.

“MINT has already prepared the draft and is holding consultations intensively with heeders, so as soon as we can proceed for approval in the government. Decision is expected to take place soon. In the meantime, the Ministry of Industry, Undertaking and Trade is continuing market monitoring”, the ministry has announced.

According to the draft of this decision released in the media, at least 2 to 3 cents will be the profit for a litre of oil for retailers in large numbers, while 6-10 cents will be the monthly profit for retail vendors.

While 10 cents per litre will be the profit for retail sales for non-initiative subjects.

That would lower the current price of derivatives for 12 cents.