MER: There is no fuel shortage, the majority of gas stations continue regular and uninterrupted supply

The Ministry of Energy and Mining claims that there is no shortage of petroleum products or a risk of disruption in market supply. It also points out in a press release that the majority of gas stations in the country continue to provide regular and uninterrupted supply, and that the available fuel quantities are sufficient for the orderly functioning of the market.

"The current situation relates to some economic entities that purchase petroleum products exclusively by importing them by road and at stock exchange prices on the day of delivery, without their own storage capacities. Given that stock exchange prices have been rising in recent days and at times have been higher than regulated retail prices in Montenegro, some distributors are facing the challenge of doing business in such circumstances," the statement reads.

They add that this does not mean that there is no fuel, but that some companies are currently facing unfavorable market conditions.

"Montenegro also has strategic reserves of petroleum products in the amount of 44.260 metric tons, which represent an additional mechanism for security of supply. These reserves, together with commercial stocks held by individual economic entities, ensure market stability. Strategic reserves alone are sufficient to cover about a month and a half of normal consumption on the territory of Montenegro."

The Ministry of Energy and Mining has, as announced, scheduled a session of the Council for Ensuring Secure Supply of Petroleum Products for tomorrow, which will discuss the current situation and possible measures to overcome the challenges faced by some energy entities (oil companies).

"Regarding the price movements of petroleum products, it is important to emphasize that stock market quotations have recorded significant daily oscillations in recent days, which is why different estimates of possible price increases could be heard in the public. These estimates referred to preliminary projections based on partial data, i.e. on price movements on individual days of the calculation period. In accordance with the current Regulation on the method and amount of elements on the basis of which maximum prices of petroleum products are formed, the final calculation is made based on average stock market quotations for the fourteen-day calculation period, with the application of the appropriate calculation exchange rate of the US dollar against the euro. Given that for a precise calculation it is necessary to take into account all quotations and exchange rate changes for the entire calculation period, the final retail prices will be known tomorrow, after entering all relevant parameters into the calculation in accordance with the regulation," the statement reads.