TIRANA, March 13 – Following tensions in the Middle East and the threat of Iran closing the Strait of Hormuz after US and Israeli attacks, oil prices increased in Albania.

Prime Minister Edi Rama said the global crisis is driving the price rise. He added that the government will create a state oil factor to reduce the burden on citizens.

Meanwhile, the state will intervene in the oil market. It will provide capacities and guarantees. This measure aims to secure long-term stability and make negotiations with oil companies easier.

Rama also said Albania will build a reserve exceeding three months. However, he stressed that this alone is insufficient as a security measure for extraordinary situations.

As a result, the government plans to ensure a more affordable oil market for citizens.

/a.p./