TIRANA, July.4- As oil prices reached $71 per barrel, Albanian manufacturers warned that this increase in energy costs will be reflected in generally higher prices. The excise tax on oil and sub products has increased too, prompting importers to consider the prices. They have indicated that during this month the price will go up by 5 lek/liter, making oil products the most expensive in the market.
The government will not undertake any measure to subsidize the cost. The annual revenue from the oil market is $250 million. The high prices have influenced the decrease in demand despite the large number of cars in Albania. Hence, oil and lubricant products for cars have seen a 40 percent decrease by consumers during the first half of 2007, compared to the same period last year.
