New Fuel Prices from Midnight

Retail prices of motor gasoline will increase by nine and ten lipa per liter from midnight, while the prices of euro diesel, blue diesel, and gas oil will rise by four lipa per liter, according to data from the Ministry of Economy, which today published the highest levels of retail prices of petroleum products for the period from January 8 to January 21, 2013.

During this period, the highest price of eurosuper BS 95 will be 10.26 kuna per liter, which is nine lipa higher than the previous price of 10.17 kuna.

Eurosuper BS 98 and 100 will increase by ten lipa per liter. Thus, starting tomorrow and for the next two weeks, the highest price of eurosuper BS 98 will be 10.58 kuna (previously 10.48 kuna), while the highest price of eurosuper BS 100 has been set by the Ministry at 10.79 kuna (previously 10.69 kuna).

The price of euro diesel BS can be a maximum of 9.69 kuna, which is four lipa higher than the previous price of 9.65 kuna.

Blue diesel and gas oils colored blue, as well as gas oil marked euro, will also increase by four lipa per liter.

Thus, the new highest price of gas oil marked euro will be 6.85 kuna (previously 6.81 kuna). The Ministry has set the highest price of gas oil colored blue marked euro at 6.19 kuna (previously 6.15 kuna), and the price of gas oil colored blue (blue diesel) at 6.10 kuna per liter (previously 6.06 kuna).

The Ministry today published the highest prices of derivatives in accordance with the new Regulation on Determining the Highest Retail Prices of Petroleum Products, which has been in effect since the beginning of this year.

The new Regulation partially changes the provision on the highest allowable price change – until now, prices could be corrected by a maximum of 3 percent in case of increase or decrease, while under the new rules, in case of price increases, the upper limit of 3 percent remains, but the threshold for price reductions is increased, allowing prices to fall by a maximum of 6 percent compared to the current highest price.

According to the new Regulation, the change in prices of petroleum derivatives primarily depends on the movement of prices of petroleum derivatives in the Mediterranean market and the exchange rate of the US dollar, and as before, the Ministry of Economy will calculate and publish the highest retail prices of petroleum derivatives every 14 days, during which time oil companies can change prices, but they must not exceed the maximum prices published by the Ministry.