TIRANA, Oct.21 – Oil prices are again on the rise following changes in world exchange markets. In Albania, the price will also increase by 5 lek per liter, according to head of the Albanian Association of hydro-carbures, Viktor Nushi. Nushi said that the increase reflects the fluctuations in the world markets to which Albania is extremely vulnerable. “The price reaction, however, will be later, – said Nushi, adding that “the exchange figures of the dollar amortize the effect of the price rise.”
According to Nushi, the current price of the D2 type of oil that Albania imports is 130 lek per liter. However, this average price does not apply to all the gas stations in Albania. Neighboring countries have also experienced higher oil prices given the dependency on international markets. The government decision to increase the excise tax by 4lek per liter has also contributed to inflationary pressures.
International markets: oil price up by 13 percent in one week
The London exchange saw oil prices increasing up to $89 per barrel. The developments in the American economy, as well as fluctuations propped up by OPEC, have caused this change which also reflects geopolitical decisions and developments. Just in the last week, the price changed by $10, with the overall increase being 45 percent this year. The conflict with Iran fuels continuous fluctuations in oil prices.
The average price of oil during the year has been $ 67.27 dollars per barrel. Other difficult days are coming since Turkey decided to interfere in Iraq . Expectations for the maximum price of oil are to rise to $100 dollars per barrel.
