Diesel more expensive by about 16 cents, and gasoline by five to six cents?

Eurodiesel prices at Montenegrin gas stations could increase by around 16 cents from Tuesday, while two types of gasoline would increase in price by five to six cents, according to data from international oil derivatives exchanges and the dollar-euro exchange rate.

This means that a liter of Eurodiesel could increase from the current 1,34 to one and a half euros, while Super 98 could increase in price to around 1,48 euros, and Super 95 to around 1,46 euros.

The reason for this increase in retail prices is the increase in the prices of oil and petroleum products following the Iranian and US attacks on Iran and then Iran's attacks on the Persian Gulf countries and the blockade of the Strait of Hormuz.

Before the war began on Saturday last week, crude oil was priced at around $71 per barrel, and yesterday it exceeded 91 euros. On Wednesday, there was a slight decline after the announcements of OPEC countries that they would increase production and from the USA that they would guarantee the unblocking of the straits and increase the quantities that they would release to the market from their reserves. However, on Thursday and yesterday, there was a new increase of five dollars per day.

Also, in the derivatives market, there was a greater demand for diesel fuel, which significantly increased its prices compared to gasoline types.

On Monday, the Ministry of Energy will calculate new prices that would be valid for the next 15 days, based on a formula from 22 years ago and data from the oil derivatives exchange and the dollar-euro exchange rate.

This department told "Vijesti" on Wednesday that they are monitoring the situation, and that the Ministry of Finance may possibly propose to the Government to urgently temporarily reduce excise taxes on fuel in order to prevent a new inflationary blow to citizens and the economy.

When asked by "Vijesti" whether they would propose a reduction in excise duties if the calculation from the formula showed a large increase in fuel prices, the Ministry of Finance simply said that they were monitoring the situation.

Montenegro does not yet have reserves of petroleum products, which it has been working on creating since last year.

There is also only one terminal for delivering fuel by sea, while the fixed fee for fuel sellers, stipulated by regulation, has not changed since 2004 and still amounts to around six cents per liter regardless of the final retail price.