Ministry: Supply of Oil Derivatives in Montenegro Remains Secure
The Ministry of Energy and Mining has assured that there is currently no threat to the supply of petroleum products in Montenegro, despite the ongoing conflicts in the Middle East and their potential impact on the global oil market.
Following a recent session of the Council for Ensuring Secure Market Supply, the Ministry confirmed they are in constant communication with all major suppliers serving the Montenegrin market.
Reports indicate that there is no cause for alarm regarding the continuity of supplies for Montenegro.
During the Council session, the current situation was evaluated concerning the availability and pricing of petroleum products, focusing on two critical areas: supply security and pricing.
“Oil prices are projected to rise, particularly if the situation worsens or if approximately 20% of global trade is disrupted. However, we currently have no definitive indicators suggesting a direct disruption to our region’s supply,” the Ministry stated.
It is worth mentioning that fuel prices in Montenegro are presently the lowest in the region (compared to BiH) and among the lowest in Europe.
Currently, diesel is priced at 1.3 euros per liter, which is:
- 30 cents cheaper than in Serbia,
- 46 cents cheaper than in Albania,
- 12 to 13 cents cheaper than in Croatia and Slovenia.
“This position provides a buffer that allows for minor increases, should they occur,” the Ministry representatives noted.
They stressed the importance of closely monitoring market developments and fuel pricing, while also taking a stand against any unjustified hikes in goods and services potentially linked to oil prices.
The Minister of Energy and Mining, Admir Šahmanović, emphasized the need for all stakeholders to act responsibly during these times of global uncertainty, particularly concerning the oil market.
“We must not allow the global crisis to serve as a pretext for unwarranted price increases. We have witnessed a rise in many products and services to previous levels, despite fuel prices having decreased by nearly 25%,” he said.