The panic reaction of consumers purchasing larger quantities of petroleum products than they currently need is likely to cause new, higher prices at gas stations in Republika Srpska to appear sooner.
President of the Petroleum and Petroleum Products Trade Group at the Chamber of Commerce of Republika Srpska, Đorđe Savić, said that changes in fuel prices on the domestic market are expected within the next seven to ten days.
“It is noticeable that panic buying has been triggered on the market and everyone has rushed to purchase fuel. This will lead to a reduction in stock levels, while at the same time procurement prices are rising. All of this will cause new prices at gas stations to appear earlier,” Savić told Glas Srpske.
He stated that the current price of diesel ranges between 2.39 and 2.42 KM per liter.
“Prices have increased by around ten pfennigs compared to last week. The reason for the increase is the rise in stock exchange quotations in the second half of February. Due to developments in the Middle East, exchange quotations rose yesterday and continued to rise today. At this moment, we cannot speculate on how high prices may go,” Savić said, adding that local supply and demand do not determine fuel prices, but rather global market trends.
He emphasized that the market is currently stable and that there are sufficient quantities of petroleum products available.
“What awaits us next, at this moment, no one knows,” Savić concluded.
In Croatia, all types of fuel have increased in price. Euro Super 95 is now sold at most gas stations for 1.46 euros per liter, which is the highest price in the past year.
The price of Euro diesel is 1.48 euros per liter, the highest level in the past two years.
Source: RTRS
