An enormous increase in fuel is not expected

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General Secretary of the Association of Oil Companies of Serbia (UNKS), Tomislav Micovic, does not expect any enormous fuel price increase, which has been speculated to the public in recent days.

“There is no indicator that can say that the price of fuel in Serbia will increase enormously or be lower, the market is stable, and everyone in the market will have sufficient supplies. Any cataclysmic and exaggerated announcements of a drastic increase in prices are unfounded, ” Micovic told Tanjug.

The price increase of a few dinars for fuel in the last few weeks is estimated to be the result of the cumulative effect of various market effects, including an increase in excise on petroleum products.

“From the beginning of the year until now, gasoline had increased by about 2 dinars, Diesel by close to 4 dinars, and during this period the excise increased by 1.6 dinars, which, when included in the VAT base, means close to 2 dinars”, says Micovic.

According to the estimates, the current brent price of $74 per barrel is significantly lower compared to the period between 2010 to 2013, when it ranged between $100 and $110, however, it is still higher than last year.

According to the oil industry, it is very important how much the average annual price of “black gold” in 2018 will be, since it has been projected at $57 to $64 at the beginning of this year. However, in those estimates, no one can place geopolitical tensions and war conflicts, as this is something that occurs in time, Micovic concluded.

Source: N1, Sputnjik, Tanjug

Photo: Pixabay