Fuel Prices Drop by 27 to 31 Lipa from Midnight

From midnight, petroleum derivatives will decrease in price by 27 to 31 lipa per liter, according to data from the Ministry of Economy, which today published the highest retail prices for petroleum derivatives for the period from October 1 to 14.

During this period, oil companies will be able to set the highest price for eurosuper BS 95 at 10.25 kuna per liter, which is 28 lipa less than the previous price of 10.53 kuna.

Eurosuper BS 98 will decrease by 30 lipa, bringing its new price to 10.55 kuna (previously 10.85 kuna).

The retail price of eurosuper BS 100 will be lower by 31 lipa, thus falling below 11 kuna for the first time since the second half of July, to 10.76 kuna (previously 11.07 kuna).

Eurodiesel BS will decrease by 29 lipa, with a new price of 9.84 kuna (previously 10.13 kuna). The last time the price of eurodiesel was below 10 kuna was at the beginning of September.

The prices of heating oil and blue diesel will drop by 27 and 30 lipa, respectively, as the Ministry has set the highest price for heating oil at 6.73 kuna (previously 7.00 kuna), and for blue diesel at 6.31 kuna (previously 6.61 kuna).

In addition to the derivatives for which the Ministry has determined and published the highest retail prices for the next 15 days, oil companies at their gas stations may also offer derivatives with added multifunctional additives for which they can freely determine the premium, thus potentially having a higher price than that set by the relevant Ministry.

However, in such cases, they must also allow customers to purchase individual derivatives without added additives, and at gas stations where this option is not available, oil companies must have a retail price that is equal to or lower than the price published by the Ministry for that petroleum derivative, as stipulated by the Regulation on Determining the Highest Retail Prices of Petroleum Derivatives.

According to the Regulation, the Ministry determines and publishes the highest levels of retail prices for derivatives every two weeks, and changes primarily depend on the movement of petroleum derivative prices in the Mediterranean market and the exchange rate of the US dollar. The maximum allowed change in the highest retail price is three percent in the case of an increase, and a maximum of six percent in the case of a price decrease.

As reported, in the past 15-day accounting period, gasoline quotations in the Mediterranean market have significantly fallen by 3.94 percent, and gas oil quotations by up to 3.64 percent. At the same time, the exchange rate of the dollar against the kuna has weakened by 1.38 percent compared to the previous accounting period.