Printer Friendly

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.

COPYRIGHT 2019 Macedonian Information Centre
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2019 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:BUSINESS NEWS
Publication:INFOMAC Daily News Service
Date:May 27, 2019
Words:176
Previous Article:CAROVSKA: SOCIAL PROTECTION REFORM TO SAVE 30,000 HOUSEHOLDS FROM POVERTY.
Next Article:GOVERNMENT SUBSIDIZED LOAN RATE DROPS TO 2.9 PERCENT.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters