Fuel Price Increase Sparks Warning of Possible Impact on Supermarket Prices

Although supermarket prices have not changed for now and remain at high levels, the rise in fuel prices could bring higher transport costs and, consequently, more expensive products. This warning was issued by Minister of Economy Besar Durmishi.

Market inspection authorities will closely monitor changes in traders’ margins. Inspections will aim to determine whether possible price increases are linked only to higher costs or whether companies are also expanding their profits. If an unjustified increase in the gross profit margin is found, Durmishi said there will be intervention.

“It is normal for the rise in fuel prices to have an impact, but through the administrative mechanisms at our disposal we will intervene if the gross profit margin increases. Inspections will be repeated. We are facing a global crisis, not only in our country, while in terms of prices we continue to be the cheapest in the region,” Durmishi stated.

At the same time, trade representatives are calling for a review of the Law on Unfair Trading Practices, so that the possibility of returning unsold goods to suppliers can be restored to them.

The minister said he will hold a meeting with traders, but stressed that before any amendment to the law, the real scale of losses they suffer from unsold products must be assessed. Since the current legislation is aligned with European recommendations, changes will also require discussions with the European Union.

The planned changes to the Law on Unfair Trading Practices also provide for a significant increase in fines, which in certain cases may rise up to tenfold.

As of yesterday, the measure to lower the prices of school supplies has also entered into force. Wholesalers must cut prices by at least 10 percent, while in retail the minimum reduction must be 15 percent. Fines are provided for violators of this measure.