Starting July 1, drivers in Montenegro should brace themselves for a fuel price hike of three to five cents per liter, announces Draško Striković from the Association of Oil Companies. Although global oil prices have slightly dropped after a surge caused by the Middle East crisis, strong demand, especially during the summer season, keeps prices elevated. Last week, fuel prices jumped as much as 16%, which would have meant an increase of up to 78 cents per liter if prices hadn’t fallen afterward. Now, a moderate increase of 3 to 5 cents is expected.
This situation highlights once again the urgent need for Montenegro to establish mandatory reserves of petroleum products. The Supply Security Law, passed late last year, mandates these reserves. The Ministry of Energy has already issued a second tender for adapting storage tanks in Bar after the first tender failed. The total cost for these reserves is estimated at 44.5 million euros, with the European Union providing 7.5 million euros in non-refundable aid to help overcome the energy crisis.
While the price increase might seem small, it comes at a time when citizens are already feeling the pinch from rising living costs. Additionally, a 0.03 cent per liter fee, introduced in February, is already included in the retail fuel price. Overall, the fuel price situation in Montenegro feels like walking on thin ice — global turmoil, regional issues, and domestic hurdles keep drivers and consumers in uncertainty.
If you thought this was the end of bad news, think again! The tenders for forming reserves are just starting, and deadlines for completing the work are far off. Don’t expect the situation to stabilize this year. So, get ready for more expensive fuel and an even more uncertain energy future. And hey, what do you think — is this just the start of a new wave of price hikes, or will things calm down? Drop a comment and let’s see who’s optimistic and who’s already counting their gas money!
