TIRANA, March 11 – Minister of Economy and Innovation Delina Ibrahimaj said the government monitors fuel prices every day. She warned that authorities may reinstate the Transparency Board if prices continue to rise.

Ibrahimaj spoke after the Council of Ministers meeting. She said fuel prices increased during the past week. The crisis and developments in the Middle East influenced the rise.

Meanwhile, authorities met major fuel traders and the Hydrocarbons Association. Ibrahimaj said the meeting addressed the rapid price increase. Officials also reminded companies to maintain mandatory fuel reserves to avoid supply disruptions.

The minister said institutions monitor several levels of the market. They track international benchmark prices for oil, gasoline, and gas. They also track the customs clearance price and retail market prices.

Ibrahimaj recalled that Albania created the Transparency Board during the 2022–2023 crisis to monitor wholesale and retail fuel prices. She said the current situation does not yet require its return. However, authorities continue daily monitoring.

She said institutions analyze international benchmark prices from the Platts platform. They compare those prices with customs data and retail prices. The goal is to check whether company margins follow international trends or show speculation.

Ibrahimaj also explained why fuel prices in Albania often appear higher than in some regional countries. She said Albania applies the circulation tax to fuel consumption, not to vehicles.

The minister added that excise duty remains a major component of the price. It stands at about 40 lek per liter. She said the government does not plan tax changes at this stage.

According to Ibrahimaj, customs data show that fuel import companies hold the legally required reserves. Suppliers also guarantee continuity in the supply chain.

She added that institutions also monitor prices of key consumer basket products. Authorities want to detect any speculative increases linked to higher transport costs.

/a.p./