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Sarajevo Times > Blog > BUSINESS > BiH Citizens expect Fuel Prices to rise
BUSINESS

BiH Citizens expect Fuel Prices to rise

Published September 21, 2024
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Due to the increase in the price of a barrel of crude oil on the world stock market, fuel prices are expected to increase by five pfennigs per liter at the pumps in Bosnia and Herzegovina in the coming days.

Almir Bečarević, an energy expert, said that fuel prices are expected to rise in the coming week because, as he says, there has been an increase in the price of oil on world exchanges.

“We expect prices to be higher by five pfennigs per liter for all types of oil derivatives,” said Bečarević.

He points out that it is very difficult to forecast what will happen in the coming period, because prices are constantly changing on world markets.

Milovan Bajić, vice-president of the Oil and Oil Derivatives Trade Group of the Chamber of Commerce of the Republika Srpska and director of “Krajinapetrol”, told “Nezavisne novine” that price increases at pumps in the RS are expected in the coming days.

“There is an increase in fuel input prices, so we can expect higher prices next week,” said Bajić.

Murisa Marić, executive director of the Citizens’ Association DON from Prijedor, previously told “Nezavisne novine” that the citizens of Bosnia and Herzegovina were completely obsessed with raising prices, including in the case of fuel.

“Nobody can definitely influence the increase in the price of fuel, and when there is an increase in the price of a barrel at the world level – there will also be an increase in our prices, but it is realistic that there must be a certain period for this to be reflected in our market,” Marić said.

He points out that the increase in the price of fuel at the pumps in Bosnia and Herzegovina will be a huge blow to consumers because, as he says, cars are an urgent need.

“This really doesn’t lead to anything anymore… I don’t even know how we can define a consumer basket anymore, a basket that has exceeded 3,000 BAM, and we know that if there are higher fuel prices, other foodstuffs will also become more expensive,” Marić said and said that be a problem for citizens.

Recall that the price of oil on the world market is below 73 dollars as traders await the decision of the US central bank on interest rates, restrained by signs of slowing demand in China.

On the London market, the price of a barrel was almost unchanged and amounted to 72.84 dollars. On the American market, a barrel was traded at 23 cents higher, at $70.32.

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