New Increase of Fuel Prices in Federation of BiH

October 15, 2018 4:00 PM

A new increase in prices of fuel was recorded in the Federation of BiH, was confirmed to Fena by the Federation Ministry of Trade.

Fuel price has risen by five pfening per liter, and the recent rise in oil prices on the world market is mentioned as a reason of higher prices.

Oil and petroleum distributors have submitted a price correction request to the Ministry as of today.

The last increase was recorded on September 9th, 2018, when the retail prices of oil were increased by 10 fenings per liter on petrol stations in BiH.

Retail prices were increased, according to oil traders, in accordance with the increase of wholesale price, i.e. in accordance with prices on the world market.

Diesel prices at petrol stations in BiH reach the price of 2.36 BAM per liter, while the price was 2.26 BAM per liter only a few days ago.

The prices of unleaded fuel were increased by 5 fenings, and thus at certain petroleum stations the price of gasoline with 95 octane was 2.36 BAM per liter, while it amounted to 2.31 BAM per liter a few days ago.

To recall, economic analysts warned that petroleum traders are more than willing to increase the prices when they are increased in the international market, but not so much to decrease them when they fall.

This happened again this time, since prices were increased on international markets on September 6, which was closely followed by BH traders.

The price of barrel in the London market was increased by 28 cents in comparison to the previous closing, and it amounted to a total of 77.55 USD.

This increase of fuel prices is another one in the series since the beginning of this year. The highest price increase of oil and oil derivatives was imposed on citizens of BiH on February 1, when the new Law on Excise Taxes was put into force and prices were increased by up to 25 fenings per liter.

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