The Price of a Barrel of Oil is Decreasing, but not of Fuel in BiH

Barrel oil prices on the world market have been falling by more than two percent in recent days. Investors are analyzing the risk of recession and demand for fuel due to rising interest rates in large economies, reports CNN.

However, this is not felt in BiH.

A liter of diesel can hardly be found below 3.50 BAM.

In Sarajevo, the price of diesel ranges from 3.56 to 3.81, and gasoline from 3.36 to 3.56. Prices are similar in Mostar. Diesel varies from 3.56  to 3.71 , and in Zenica from 3.56 to 3.76 BAM. Gasoline is slightly cheaper.

In Tuzla, a liter of diesel costs from 3.66 to 3.76 BAM, and gasoline from 3.31 to 3.56 BAM.

Oil prices in 2008 were a maximum of $ 147 per barrel. At that time, the fuel was 2.10 BAM per liter at the gas stations. A month ago, fuel cost 134 dollars per barrel, and at the gas stations in BiH at that time it was already 3.26 BAM per liter, reminds Nezavisne Novine.

So, fuel is 23 percent cheaper today than in 2008, but a liter at gas stations is over 70 percent more expensive compared to that period, “it is stated in the status on social networks.

One way to mitigate the new increase is to limit the margin on fuel prices, but even that is not enough, says Adnan Smailbegovic, president of the Federation of BiH Employers’ Association.

The sector of transport of goods and passengers suffers the biggest blow, but it is transmitted in a chain to every branch of production, as well as the prices of all products and services for the end customer.

“It was an idea, and I think it should have been adopted, to temporarily suspend excise duties on fuel. State revenues are growing, and excise taxes are not an income that the state would significantly feel, and the economy and citizens would certainly feel relief if, for some 40 pfennigs, a liter of oil or gasoline would be cheaper for them,” Smailbegovic points out, Avaz writes.

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