New Taxes Increase Oil Price
Albanian Daily News
Published May 3, 2016

The expected price increase became a reality. Oil price in Albania increased due to the new taxation system applied by the Tirana City Hall that includes a tax for the education system or re-licensing. Experts warned days after this municipality presented the new taxes that they will have consequences on the oil price. And they warning become soon a reality. Oil price went from Lek 151-152 until last Monday while on Tuesday the price went up by 5-6 points reaching a quota of Lek 156-157. Every gas station in Tirana now must pay Lek 5 million more for the license renovation while in other municipalities this fee is Lek 2 million. This additional cost was defined during an executive meeting on December 2015. Traders warned this decision would influence the oil price leading to a Lek 5 for liter increase. 





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