The arrival of the New Year in Albania is being followed by the raise of oil and gas in the domestic market. The oil price on Tuesday in the gas stations in urban areas was 178 All per liter. According to the main operators of this sector the price increase is linked to the situation in the international market. Brent oil price in the international market is USD 56 per barrel, the highest level since September 2015.
This is the third time that Albania experiences oil price increase since January 2016 when the prices went down to around 160 All per liter. Currently Albania has the highest oil price in the region and one of the highest in Europe. The heavy fiscal burden, which covers around 65-70% of the oil price, is among the main motives for such high oil price.