Albania's government reduces fuel excise by 20 per cent

In a statement to the media, Finance Minister Petrit Malaj announced that the normative act for lowering the excise will be in force until the full stabilisation of the situation.

“Sic has promised Prime Minister Rama, the government today took a concrete move to absorb the effects produced by the conflict in Iran, reacting to rising oil prices on international markets, especially in the last 48 hours,” said Malaj. According to the normous act, the excise will decrease by 20% if the retail price, set by the Transparency Board, exceeds:

$220 per litre for oil; $200 per litre per gas.

The minister stressed that lowering the excise will stay in force until the full stabilisation of the international situation and added:“we are fully committed to responding with responsibility to any challenge, protecting Albanian citizens from the financial effects of this conflict, but also protecting the state budget and our country's economy, especially at this critical moment facing the world today. ”, he said. /TCh/