Only government benefited by dropped oil price
08/01/2015 00:00
The Washington Agreement Must Be Reactivated! 06/01 19:04
The Albanain consumers are those who have benefited less from the
dropped oil price. Data from Global Petroleum say that Albania and
Serbia are the onlyu countries in the region where the oil price has
dropped with less than 10%.
In other countries, the oil price has dropped at 15 to 20%. But why Albanian consumers haven’t profited enough by the price drop? It seems that it is related to taxes.
According to Eurostat, Albania has the highest fuel taxes. More than half of the final price that is paid by consumers is not affected by the new price. If the oil price drops with 10% in international markets, in Albania it will drop with only 5%.
This January, fuel taxes were increased once again with 12 ALL. In normal conditions, these 12 ALL would have dropped the final price for consumers, but they were deviated to the budget.
And this is only a recent tax increase that entered in power recently. If calculated with that of the past year, the fuel taxes since 2013 have increased with 24 ALL. This means that the government is the one to benefit by the reduced oil price.
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