Today, the Energy Regulatory Commission of North Macedonia will unveil revised prices for fuel oil and gasoline. Last Monday, the Commission took the necessary action to raise the price of diesel by 14.5 denars and gasoline by 5 denars. These adjustments reflect ongoing shifts in global oil market conditions.
The anticipated price increases stem from several factors. Fluctuations in international fuel prices, coupled with the elevated dollar exchange rate against the denar, are expected to drive further adjustments. The previous week witnessed significant developments, including the closure of the Strait of Hormuz and a surge in oil prices exceeding 100 dollars per barrel.
Recognizing the potential impact on consumers, the government has prepared a contingency plan. Should a substantial price increase occur, they are prepared to implement a VAT reduction. Initially, the rate will be lowered from 18% to 10%, and potentially further decreased to 5% depending on the magnitude of international market movements affecting fuel prices.
This proactive measure aims to mitigate the financial burden on citizens. The Commission’s announcement will provide clarity on the current and future prices.
Topics: #prices #fuel #price
