Albania fuel prices reach near-record levels

Fuel prices in Albania have reached levels near the records set during the war in Ukraine. According to a Monitor observation, diesel is currently trading between 226 and 229 lekë per liter, up from a previous 219 lekë. Gasoline prices have also risen, increasing by 11 to 14 lekë per liter to reach between 216 and 219 lekë per liter.

This domestic price hike follows immediate increases in international markets. Brent crude recently reached levels of 110 USD per barrel. The surge in global prices is attributed to the conflict situation in Yemen, which has caused a decrease in vessel traffic through the Strait of Hormuz, a critical passage for 20% of global production.