North Macedonia fuel prices to rise by average 4.85%

The Energy Regulatory Commission (KRE) has decided to increase retail prices for oil derivatives by an average of 4.85%, effective from 00:01 on August 18.

According to the decision, the maximum prices for various fuels will rise as follows: Eurosuper BS-95 will increase by 4.50 denars to 91.50 denars per liter, and Eurosuper BS-98 will increase by 4.50 denars to 93.50 denars per liter. Eurodiesel BS will see a 6.50 denar increase to 98 denars per liter, while extra light oil (EL-1) will rise by 6 denars to 98.50 denars per liter. Mazut M-1 NS will increase by 0.188 denars to 43.726 denars per kg.

The KRE attributed the price hike to higher reference prices for oil derivatives on the global market and a 0.2247% decrease in the exchange rate of the denar against the dollar. The commission noted that these are maximum prices, meaning traders may choose to sell fuel at lower rates. The decision maintains reduced excise duties for Eurosuper BS-95, BS-98, and Eurodiesel.