Albania, the 13th in the world for the highest oil price

Albania, the 13th in the world for the highest oil price

 Albania ranks among the last three countries of Europe relating to economic development, but there is an indication that that Albania competes with the richest economies of the planet, it is about the high price of oil.

According to Global Petroleum Prices, Albania has currently the 13th highest oil price in the world.

Albanians citizens pay an average of 178 leks or $ 1.65 per liter of oil, when in Germany, Austria or the Netherlands the price is significantly lower, the reason for this absurdity is the government.

"Because the tax system we use on fuels is the highest and we have some special taxes that do not apply elsewhere. The high price comes from the taxes included in the cost," says Luigj Aliaj from the Hydrocarbon Association.

In every liter of oil, which is paid about 180 lek, over 100 leks go to the government, while the rest is the cost for the oil. This makes the price never drop even if oil on stock is sold for free.

"The oil price that comes out today from the international stock-market including transportation, distribution costs and company profits has a price between 70-75 leks, the rest is the tax," says Luigj Aliaj.

But despite this heavy burden, the government continues to add taxes on oil, now through concessions. The latest is expected to come very soon.

"There is also a tax that will be passed on to the private, for the control of fuel pumps, which will be an additional cost for the high price," adds Luigj Aliaj.

Many experts say the high price of fuel has harmed the economy by making Albanian businesses less competitive compared to neighboring countries where oil costs much less than in Macedonia where the average oil price is 130 leks.
Albania, the 13th in the world for the highest oil price Albania, the 13th in the world for the highest oil price Friday, June 29, 2018 Rating: 5
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