From the beginning of 2025, drivers in Montenegro will pay an additional three cents per liter of fuel, Zorana Sekulić from the Ministry of Mining, Oil and Gas told TV Vijesti in Colors of the Morning.
This fee was introduced by the Law on Safety and Supply of Oil Derivatives, which was adopted by the Parliament with the votes of the ruling majority. The compensation will be used to form mandatory reserves of oil derivatives, which is a key step for ensuring energy stability and security in the country.
According to Zorana Sekulić from the Ministry of Mining, Oil and Gas, it is necessary to adopt a by-law that will regulate the methodology of calculating this fee. That act should be adopted within 60 days after the entry into force of the law.
How long will the fee be three cents?
A charge of three cents per liter of fuel is intended as a temporary measure. It will be applied in the next six months, after which the Government will make a decision on a possible increase, decrease or retention of the same amount of compensation.
"The collection period in this amount will depend on the costs required for the formation of reserves and market stability. According to estimates, three cents will enable the formation of reserves in the next three to four years, after which the fee will be reduced and adjusted to the costs of maintaining and storing reserves," she said. Sekulic.
Why was this fee introduced?
The aim of the law is to ensure the safety and stability of the supply of oil derivatives in Montenegro, as well as the fulfillment of the conditions from the negotiation chapter 15 for accession to the European Union.
Montenegro, which is completely dependent on the import of petroleum products, must form mandatory reserves in the amount of 100.000 tons of petroleum products. Part of the reserves will be formed by the state, while the largest importers of oil derivatives will have the obligation to form their own reserves.
Sekulić pointed out that the fee of 3 cents per liter of fuel is a cost-neutral measure, as two-thirds of the collected funds will be transferred to the Hydrocarbons Administration, while one-third will cover the costs of oil companies responsible for forming reserves.
Impact on fuel prices
The formation of fuel prices in Montenegro depends on oil stock prices, the dollar exchange rate, the amount of excise duties and distribution costs. Sekulić emphasized that the additional fee of three cents will be neutral in periods when stock prices of fuel are falling, while otherwise it could slightly affect the overall price.
"In the past months, fuel prices in Montenegro have varied. For example, from July to October 2023, a drop of 15 cents per liter was recorded. In such a context, three cents will not significantly affect the economic situation of citizens," said Sekulić.
Could the state have avoided this compensation?
The Ministry of Mines, Oil and Gas considered various options, including the use of budgetary funds. However, it was decided that the fee should be paid by the drivers, so that the cost of insuring reserves would be evenly distributed among those who use fuel.
"In the end, the cost from the budget would again be borne by the citizens, including those who do not use fuel, such as the elderly, children or cyclists. This model allows the cost to be borne exclusively by those who use oil derivatives," explained Sekulić.
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