Boris Spalević, Secretary General of the Association of Oil Companies in Montenegro, spoke about how the historic drop in oil prices will affect fuel prices in Montenegro.
"The current situation in the world has significantly reduced the demand for oil, and production has increased, so there is not enough space for crude oil storage," Spalević announced.
As he says, the price of oil derivatives is expected to fall, and today the calculation of new prices is being carried out, which will be known from next week.
Spalevic said that they expect a further drop in prices from Tuesday.
"The regulation of the Ministry of Economy clearly defines the parameters for the formation of oil prices, and on the website of our association there is a calculator based on which you can see what makes up the price of oil," said Spalević and pointed out that excise taxes make up the largest part of the price of oil.
He points out that the global drop in oil prices started last year, and that this trend has been escalating in the last month due to the consequences of the coronavirus epidemic.
"The turnover at gas stations has dropped by almost 50 percent, but we expect that after the end of the current situation, everything will come to life again, which will increase the demand for oil on the domestic market," Spalević added.
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