Oil prices rose sharply again on world markets after hopes of a quick ceasefire between the United States and Iran faded, further fueling fears of supply disruptions.
The price of a barrel of Brent oil crossed the $107 mark again on Monday. According to data reported by Reuters, Brent rose by more than three percent this morning to $107.75 per barrel, while American WTI reached $94.55.
The rise came after US President Donald Trump rejected Iran’s proposal to end the conflict, reigniting market concerns that supply problems could persist. At the same time, diplomatic contacts have not been completely cut off, and new talks are expected during this week.
Data from the market show how quickly the situation is changing. Anadolu announced earlier this morning that Brent for December delivery was trading at $98.54 per barrel, indicating a strong rise during morning trading.
Fuel in Bosnia and Herzegovina has already become more expensive
The rise in crude oil prices comes at a time when fuel prices in Bosnia and Herzegovina are already at a higher level than a few weeks ago.
According to the latest available data for September 28, the average price of diesel in BiH is about 3.79 KM per liter, while the average price of Super 95 gasoline is about 3.34 KM. The average for Super 98 is about 3.19 KM, and for LPG about 1.39 KM per liter.
In Sarajevo, prices are different from pump to pump. For example, in Stari Grad today, diesel can be found at a price of 3.77 KM, while Super 95 is available for 3.39 KM per liter. Additized diesel at individual pumps is about 3.85 to 3.87 KM.
Differences also exist among other parts of the Federation of Bosnia and Herzegovina. In Hadžići today, diesel can be found at a price of 3.66 KM, while Super 95 costs around 3.23 KM. In Velika Kladuša, diesel prices start at 3.69 KM, and Super 95 at 3.16 KM per liter.
In recent weeks, continuous growth has been recorded. In the week from September 14 to 20, the average price of diesel in BiH increased from 3.56 to 3.71 KM per liter, while the price of Super 95 increased from 3.21 to 3.29 KM.
Will the price of fuel in Bosnia and Herzegovina rise again?
The further trend will depend primarily on the movement of crude oil prices on the world market, but also on the exchange rate of the US dollar, transport costs and the regional market.
In the Federation of Bosnia and Herzegovina, a decision limiting the maximum margins on non-added petroleum products is also in force. For wholesale, the maximum margin is set at 0.06 KM per liter, and for retail at 0.25 KM per liter. The measure was introduced with the aim of mitigating the consequences of disturbances on the energy market and consumer protection.
The Federal Ministry of Commerce monitors the movement of retail fuel prices, crude oil prices and the dollar exchange rate, while current prices at gas stations in the Federation can also be monitored through the official FMT Oil system.
For drivers in Bosnia and Herzegovina, this means that, if the price of Brent oil continues to rise above $100, the pressure on domestic fuel prices could remain pronounced. However, the change in the price of crude oil on the world market is not automatically transferred to the prices at gas stations on the same day, because the final price is also influenced by purchase prices, taxes, margins, the dollar exchange rate and retailers’ stocks.
