ENERGY REGULATOR TO SET FUEL PRICES BY NEW METHODOLOGY FOR FIRST TIME.
The Regulatory Energy Commission has already adopted the new methodology of setting prices of oil and oil derivatives and starting from Monday, 27 May, it will use it to set retail prices of petrol in Macedonia on a weekly basis.
In the new methodology, the Commission has also driven up the retail margin from 3.2 to 4.6 denars per liter although traders wanted it to be 6.2 to 6.5 denars and has set the transport cost at 0.75 denars per liter.
By the new methodology as well, the rate of exchange of the dollar against the denar and the price of crude oil and oil derivatives in world markets will be the main criteria in setting retail prices at petrol stations across the country.
The adoption of the new methodology marked the end of the 2-week liberalization of the petrol market in the country brought about by former President Gjorge Ivanov's refusal to sign the modifications to the energy law that were necessary for the new methodology bylaws to be passed.
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|Title Annotation:||BUSINESS NEWS|
|Publication:||INFOMAC Daily News Service|
|Date:||May 27, 2019|
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