Oil prices in the world have been falling in recent days, but in BiH they are still unchanged. Bh. the distributers explain that the reason is that we get our supplies from Russian sources, and not from the London or New York stock exchanges. What further complicates the situation and increases prices are the surrounding countries from which we import oil.
While fuel prices on the world market are falling, drivers in BiH expect in vain that prices will soon be more acceptable for their wallets as well. While waiting for the suspension of excise duties and a new inflationary wave, BH market depends on oil from Russia, Federalna writes.
“The fact is that crude oil prices have fallen on the London and New York Stock Exchanges, but we have explained so many times that they are not relevant to us because we are tied to the Genoa Stock Exchange, which creates prices in the Mediterranean. All our suppliers from the region are directed to the processing of Russian crude oil, and that is reflected in us.
“It is important to say – to feel the effects of the stock market, we asked the Ministry of Foreign Trade and Economic Relations of BiH to abolish customs duties because we are now doomed to oil from the European Union and countries with which BiH has an agreement on special relations – CEFTA countries “, Says Milenko Boskovic, President of the Association of Traders of Petroleum Products of FBiH.
The Federal Ministry of Trade reminds that the measures of direct price control and prescribed margins in wholesale and retail were adopted a year ago – still in force.
The Ministry of Trade announces that the average retail price in the Federation of BiH on April 12, 2022 year for gasoline 95 is 2.86 BAM / l and for diesel 3.13 BAM / l.
“We have neither a refinery nor oil reserves, so it is not surprising that we depend on the import of petroleum products. Not only in terms of price, but also in terms of quantity “, reminds Boskovic. He adds that we should be afraid that, due to sanctions or increased spending in the tourist season, the surrounding countries will first secure their markets.
Economists have no doubt that the fall in the prices of oil and oil derivatives in the world will affect BiH as well and the market, but it is questionable to what extent. Until we improve competition, the oil wholesalers we depend on have a monopoly.
“The assumption is, as far as fuel is concerned, that 30 to 50 pfennigs will fall in the short term, maybe more later, but in the foreseeable future we will not reach the level before the events in Ukraine, the energy crisis and the like – but the price will certainly stabilize,” claims Cavalic.
There are other ways to stabilize and adjust BiH prices, standard, but are less popular.
“The second is the activation of refineries, an attempt to do something in that area – it is more expensive and long-term. The third is to try to break the oligopoly of oil traders and to have more participants in that segment of distribution. The latter refers to the exit of the state from the final price of oil and petroleum products. When you pour at the gas station, 50 percent is the participation of the state “, explains Cavalic.
An attempt to impose an embargo on oil from Russia in the European Union is pending due to certain consequences, which best shows the dependence of European countries on Russian energy. We are in an even more difficult situation because, in addition to sources from Russia, we also depend on the countries in the region from which we supply petroleum products, and which largely dictate the price of Bosnia and Herzegovina. pumps because the lack of competition allows them to do so.