After several days of increases, the price of oil in the retail market in Albania has suffered a sharp decrease this evening. According to a survey conducted this evening, some of the main fuel retail chains have reduced the price of oil from 214 lek to 199 lek per liter, bringing it back below the 200 lek mark for the first time in several weeks. The move comes at a time when international markets have begun to reflect a decline in oil prices, after the strong increases of recent weeks, which were quickly transmitted to the Albanian market.
The development brings to mind the way the market functioned during the March-June period of this year, when the Transparency Board was activated due to strong fluctuations in international stock markets. During that period, maximum fuel prices were set by the Board and monitored on the ground for their implementation by operators. Unlike that period, tonight's reduction does not come as a result of an administrative decision, but has been directly reflected by operators at retail points of sale, in line with recent developments in international markets. It remains to be seen whether there will be a government decision to restore the Board's functioning.
