Fuel prices keep dropping – Increase of excise taxes expected

In the first days of 2019, the prices of fuel in Serbia have continued dropping. This trend started in mid-December 2018. The price of 95-octane petrol dropped by a dinar to a dinar and a half and costs RSD 144.20 per liter at a large number of gas stations, whereas Euro-diesel is cheaper by a dinar and a half to two dinars and costs RSD 158.90 per liter.

The biggest drop is recorded in liquefied petroleum gas (LPG), which was sold for 82 to 84 dinars per liter before New Year, whereas on Monday, January 7, certain gas stations charged RSD 78 per liter. Experts says that, after the jump in the price of raw oil, there was a drastic drop in the prices in the global market in the early autumn of 2018, and, considering the stable course of the dinar relative to the euro and the dollar, it is quite normal that the prices in Serbia have started dropping as well.

If there are no major changes in the global market, the prices of oil products might continue dropping, although the increase of excise taxes, that is, their harmonization with the growth of retail prices, is expected.

– Excise taxes expressed in euros are harmonized with the growth of consumer prices. We will know by how much when the Statistical Office of the Republic of Serbia announces what the growth of consumer prices in 2018 was, which will happen in the second half of January. No one ever knows when the new excise taxes will come into effect. Last year, the harmonized excise taxes came into effect on March 17, and in 2017, they came into effect on February 1 – says Tomislav Micovic, Secretary General of the Association of Oil Companies of Serbia (UNKS).

Last year, the state increased the excise taxes by RSD 1.60 per liter in March only. It is interesting to compare the fuel prices on the date of January 7 in 2018 and 2019 and note that there is no difference in the price of petrol, with only diesel fuel being more expensive by RSD 7.5.

NIS a.d. Novi Sad

Udruženje naftnih kompanija Srbije Beograd

Republički zavod za statistiku

Naftna industrija Srbije

NIS

Association of Oil Companies of Serbia

UNKS

Statistical Office of the Republic of Serbia

Tomislav Micovic

prices of fuel in Serbia

cheaper fuel

Euro diesel

price of petrol

price of diesel

price of LPG

price of liquefied petroleum gas

gas stations in Serbia

global price of raw oil

sale of fuel