Oil rises again, approaching the level of 200 lek

Oil rises again, approaching the level of 200 lek

Oil prices are approaching the level of 200 ALL per liter. In the last few days, the price in the local market is 5 lek per liter, for the fourth time in a row within a few weeks.

At Kastrati trading points, the largest retail and wholesale operator in the country, a liter of diesel is sold at 197 lek, from 192 lek a few days ago. Gasoline is sold at 199 ALL, from 196 ALL before. At other points, the price of oil was higher. The Bolv Oil company is currently selling a liter of diesel for 199 ALL per liter.

Since July 15, when the increase in price began, oil has increased by a total of 21 lek per liter (four times in total), reaching the highest level since mid-March of this year. (see chart: Oil prices in the domestic retail market. January 2022-August 13, 2023).

Before the increase in price started, it had dropped to 179 ALL.

Market operators claim that the trend is related to fuel prices on the stock exchange, where the Platts indicator, which is taken as a reference by Albanian importers, closed on Friday at $940 a ton, which is the highest level since October 2022 and the trend looks for further appreciation towards $1000.

According to the Financial Times, the price of oil on the stock exchange reached 85.3 USD yesterday compared to 74 USD in July.