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FIGURES/ Fuel consumption is increasing in Albania

2023-04-03 17:32:57Biznes SHKRUAR NGA REDAKSIA VOX

FIGURES/ Fuel consumption is increasing in Albania

The drop in prices on the stock exchanges, the increase in domestic demand and the good management of the customs administration have led to an increase in fuel clearances. Fuel consumption in the first 3 months of 2022 exceeded the first quarter of 2022 by about 5,000 tons and the first 3 months of 2021 by about 3,100 tons.

Operational data from the General Directorate of Customs show a progressive increase in fuel consumption during the month of March 2023, exceeding the figure of 48 thousand 741 tons. The increase in fuel consumption, as one of the main products that affects the economic chain of goods and services, signals an increase in domestic demand and economic growth.

In the latest monetary policy report, the Bank of Albania has expressed a satisfactory resistance to the impact of prices that came from the foreign environment, the increase in wages, and the increase in employment.

"Consumer spending and private investments will be fueled by the good finances of the private sector, the strong labor market and the increase in credit, while the export of goods and services is expected to increase", informs BSH.

Meanwhile, according to Instat, economic growth is supported by the activity of Industry, Energy and Water (with 6.18%), Trade, Transport, Accommodation and Food Service (5.61% increase), Information and Communication (13.79%). , Financial and Insurance activity (12.97% increase) and Real Estate (9.36% increase).

During 2022, fuel imports decreased, reflecting their sharp increase in price, especially in the first part of the year. At the beginning of March, as soon as Russia's attacks on Ukraine began, oil in the world exceeded 120 dollars per barrel, while in the domestic market it reached record levels of up to 265 ALL per liter.

In the last months of 2022, the price came down, dropping below 200 ALL/liter. Currently, a liter of diesel is traded for 184 ALL, according to the latest decision of the Fuel Board, which, starting from March 2022, determines the ceiling prices for the trading of diesel, gasoline and gas./ Monitor


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