Petroleum Products in Bosnia-Herzegovina to be cheaper soon?

February 1, 2020 3:00 PM

 

Petroleum products in Bosnia-Herzegovina could be cheaper by five to ten fenings, after world oil prices fell by as much as 15 percent, Avaz news portal reports.

That the fuel could actually be cheaper in our country, is evidenced by the fact that there were already discounts on the petrol stations in neighboring countries.

Encouraging news is also coming from the Federation of Bosnia-Herzegovina Ministry of Commerce.

“In the last two days, we have received about 50 forms where the prices of BMB 95 and diesel 10ppm have been reduced by five fenings. As oil prices have plummeted on the world market in recent weeks, it is expected that prices will continue to decline in our country as well,” says Lela Glibo, Head of Price, Analysis and Market Development at this ministry.

According to Milenko Boskovic of the Petroleum Transportation Association, the fact is that oil prices have dropped on the world market, and some companies in our country have already reported lower prices.

He explains that there are many factors affecting the price. Also, the price structure is such that half of the price, or more than half, is taxed. There has been a significant drop in the price of refined oil in recent weeks. Realistically, there is room for a discount, but not too much. To expect something more, but not drastic.

Boskovic points out that some companies have already reported lower prices.

“I know there were certain requirements, but the Association has no competence in pricing. So it’s too early to talk about a specific number of companies,” Boskovic concludes.

 

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