TIRANA, March 20 – Economy and Innovation Minister Delina Ibrahimaj announced that the government will reactivate the Transparency Board to monitor fuel prices. She also confirmed a 20 percent cut in the excise tax on diesel, reducing it from 39.6 lek per liter.

Ibrahimaj said the government took the decision after recent market developments. She stated that both measures will go urgently to the Council of Ministers for approval. She explained that authorities will apply an existing pricing formula based on Platts benchmark prices, taxes, and fixed margins. The wholesale margin will stand at 3 lek per liter, while the retail margin will reach 12 lek per liter.

She said the system sets maximum prices that companies cannot exceed, with penalties in place for violations. Ibrahimaj noted that a government task force has monitored the market since the start of the Middle East conflict. She said international prices have risen by 80 percent, while domestic prices have increased by 24 percent, indicating no speculation. She added that company profit margins remain around 8 to 9 percent.

The minister said authorities are preparing to establish a public entity to manage mandatory fuel reserves. She confirmed that the draft law is under public consultation. Ibrahimaj also said food prices have not increased so far. She added that the government will introduce support measures for vulnerable groups and pensioners if needed. Diesel currently sells at 214 lek per liter in the retail market.

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