Fuel prices drop in yet another Central European country

Fuel prices drop in yet another Central European country

After weeks of rising prices and market panic, there is good news at the pumps. Starting today, petrol and diesel will cost less at the patrol stations in one European country, while motorists in the West continue to experience soaring, exorbitant prices.

ECONOMY WORLD MARCH 18. 2022 14:04

Government decides on new prices every Friday

The Russia-Ukraine crisis has – among other things – sparked price increases, pushing fuel prices to record highs across Europe. Last year the Hungarian government, followed later by the Sebian and other governments, decided to put a freeze on prices to mitigate the impact on people’s living standards while providing the necessary quantities for motorists.

The trends of recent weeks have prompted people to stockpile and begin panic-buying in Serbia. In the end, the government issued a statement to assure people that there was enough petrol and diesel and that it was forbidden to increase fuel prices, which had a calming effect. Meanwhile, the government in Belgrade also put a ban on filling petrol cans, allowing people to only fill up the tanks of their vehicles. According to a later decision by the government, however, it is now allowed to fill up so-called transportable cans up to 60 litres. The government’s move is mainly designed to provide assistance to farmers, enabling them to use their machines without disruptions.

Drop in fuel prices from today

President Alaksandar Vucic announced on Thursday night that fuel prices will be reduced in Serbia. Compared to the fuel prices seen in the last 7 days, this means that diesel will cost 42 paras or 36 euro cents less, while petrol prices will drop by 24 paras – or 21 euro cents – in the Balkan country starting on Friday afternoon. As a result, diesel will cost 187 dinars 28 paras (1.60 euros), whereas a litre of petrol will set motorists back with 176.14 dinars (1.51 euros).

Serbia will have enough fuel, the country’s head of state told Pink Television in a recent interview. President Vucic emphasized that the Serbian government had sent a team of experts to Brussels to examine ways in which they could supply the market with oil and petroleum products. In addition, Serbia is in constant negotiations with its Russian partners. Amidst the current madness and hysteria, it is important to preserve our national interests, Mr Vucic said.

Fuel prices are the lowest in Hungary in the region

In regional comparison the price of the 95 octane petrol is the highest in Greece, where one litre costs 1.94 euros. Fuel prices are the lowest in Hungary, where the government put a freeze on prices at 1.22 euros.

Petrol prices by country (per litre)

Greece 1, 94 euros
Albania 1.62 euros
Croatia 1.57 euros
Montenegro 1.54 euros
Romania 1.50 euros
Serbia 1.45 euros
Bulgaria 1.39 euros
Northern Macedonia EUR 1.36 euros
Bosnia and Herzegovina EUR 1.30 euros
Hungary 1.22 euros

Diesel prices per country (per litre)

Greece 1, 68 euros
Albania 1.62 euros
Croatia 1.54 euros
Serbia 1.52 euros
Romania 1.48 euros
Slovenia 1.47 euros
Montenegro 1.43 euros
Bulgaria 1.37 euros
Bosnia and Herzegovina 1.29 euros
Northern Macedonia 1.22 euros
Hungary 1.22 euros

Meanwhile, fuel in Western Europe is still very expensive, with prices ranging from 2.1 to 2.5 euros per 1 litre of petrol or diesel in most places. The most expensive pumps are in the Netherlands and the Scandinavian countries.

ECONOMY WORLD

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benzin, fuel, serbia