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Ekonomia

The price of oil on the stock exchange falls to the lowest level since January, trading at $85/barrel

The price of oil on the stock exchange falls to the lowest level since January,

The price of oil on the stock market has dropped to pre-war levels, even approaching last year's figures. At the beginning of this week, oil is being traded on the stock exchange at 85 dollars per barrel, the lowest figures reached since January of this year. Compared to a year ago, crude oil is being traded at 7 to 12 dollars more expensive, since in September of last year the price of crude oil in foreign markets was fluctuating at 73-78 dollars per barrel.

But this drop in crude oil in foreign markets is not reflected in the same way in our country by the decisions of the Transparency Board and this for several reasons. According to the Ministry of Finance, the board is not based on the price of crude oil, but the change in sales prices is only related to changes in the Mediterranean Platts exchange for diesel and gasoline.

Second, they do not allow the profit margins set for companies, and thirdly, the decrease in the price of fuel in the country is also being restrained by the strengthening of the dollar.

"We emphasize that the Board does not set the prices of crude oil, but of diesel, gasoline and liquid gas according to the standards defined in the Normative Act. The Board has only set maximum gross margins for wholesale and retail, with which operators must cover all operating expenses. So, the decisions taken by the board and the change in sales prices are only related to changes in the Platts Mediterranean exchange for diesel and gasoline, not the crude oil exchange, as well as the movement of the dollar exchange rate. All other elements that form the price are fixed and the board does not make a decision on these", it was stated in the last decision of the Transparency board dated September 24.

Meanwhile, according to the official data of the Bank of Albania, one dollar in the country is currently being exchanged for close to 120 lek, from 116 at the beginning of this month.

Currently, oil in the country is being sold at 223 Lek/liter, from 216 Lek, gasoline is sold at 194 Lek/liter, while gas remains unchanged at 78 Lek/liter.