The Minister of Capital Investments, Ervin Ibrahimović, initiated this morning, according to the Department of Finance, a proposal to reduce excise duties on oil derivatives.
As the Ministry of Interior informed the Mina-Business agency, the proposal was initiated keeping in mind the influence of the price of oil derivatives on the market of goods and services, which inevitably affects the standard of citizens.
All types of fuel went up by a cent to three cents last Tuesday, which is the 11th increase in fuel prices since the beginning of the year.
In Montenegro, fuel prices are adjusted every two weeks on the basis of stock market movements in the prices of oil derivatives and the exchange rate of the dollar and the euro. Other items defined by the Regulation on maximum retail fuel prices from 2001 are added to those amounts.
Earlier, the Government announced that due to the increase in fuel prices, it could once again consider the possibility of reducing excise taxes.
The Government's permanent, multi-month decision, the first of its kind in Montenegro, was adopted at the proposal of the Ministry of Finance in May of last year. It enabled citizens and the economy to have cheaper fuel, so that they could more easily bear the consequences of global market shocks.
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