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Oil should have been 183 Lek/ "Chet" Board is not reflecting the price drop in the stock market

2023-01-09 22:37:45Biznes SHKRUAR NGA REDAKSIA VOX
Oil should have been 183 Lek/ "Chet" Board is not reflecting the price
Businessman Shefqet Kastrati

The Transparency Board has not met for almost 3 weeks. The price of oil today was supposed to be 183 ALL, but currently it is 199 ALL.

This policy severely affects the public interest, openly favors the oligopoly of fuel operators, the forced increase of budget revenues, and supports massive smuggling, which amounts to 300 million Euros.

The last time the Transparency Board intervened to set the fuel price was December 20 of last year. It has been 19 days today that the Board has not met, although the normative act, on which it was established, stipulates that the Board meets at least once a week.

Confindustria reiterates its concern about the continuation of the non-intervention of the Transparency Board during the beginning of 2023 for the reduction of the price of fuel in the local market.

According to data from international stock exchanges, the price of oil has fallen rapidly, approaching the lowest quotas of 2022. Based on comparative estimates on an annual basis, the retail price of the "diesel/diesel" product in the Albanian market should to be lower than ALL 1830/liter.

Meanwhile, for more than 2 weeks, the price of oil in the Albanian market is at the limits of almost 2000 ALL/liter. The above additional costs for citizens and businesses amount to millions of dollars.

Confindustria reiterates its concern that the Transparency Board continuously delays the decision-making in the case of lowering the price of fuel in the international markets in an excessive manner. At the same time, the institution in question continues the practice of immediate decision-making in the event of an increase in fuel prices, reflecting it directly on the local market.

The above practice severely affects the public interest and openly favors the oligopoly of fuel operators, the forced increase of budget revenues as well as supports massive smuggling, which amounts to 300 million Euros.

Confindustria has continuously requested the merger of the Transparency Board and the establishment of the Fuels Entity, as well as taking measures for the necessary increase in competitiveness in the country's largest strategic market of 10-11% of PPB with a turnover of over $1.5 billion/year . The Fuel Entity must be subordinate to the Assembly of Albania and composed of professionals.

The Transparency Board is subordinate to the executive and composed, in full conflict of interest, in half of it by representatives of the commercial entities themselves, which should be investigated for possible speculation in the market./Tch


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