RS government to talk to fuel distributors about fuel price hikes

RS trade minister Predrag Gluhakovic said he will initiate talks with all major fuel distributors to discuss what the government can do and how to intervene in the event of a drastic increase of fuel prices. Commenting on recent fuel price hikes in the entity he said that he will have more information after talks with the distributors, including the Brod oil refinery. The overhaul in the refinery last month was said to be among reasons for the increase in fuel prices in the entity because of the increased transportation costs.

Fuel prices in FBiH increased as well by KM0.05 per liter as of Monday because of the recent rise in global oil prices. CPI inflation stagnated at 1.8% y/y in August, but has been accelerating since the start of the year, mostly due to transport prices developments. Given the volatility of global oil prices and the fact that they are unlikely to ease to much lower levels than the current, despite potential swings, the trend is likely to be preserved.

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