Fuel Prices Rise Again in Albania, Diesel Reaches 219 Lek per Liter

Prices at fuel stations across the country have risen once again. Diesel is now being sold at 219 lek per liter, up from 215 lek, while gasoline has increased from 198 to 205 lek per liter.

The increase for gasoline is 7 lek per liter, while diesel has risen by 4 lek. The change in the Albanian market follows an increase of around 3% in oil prices on international exchanges over the past 24 hours.

Platts diesel, one of the indicators used to calculate import costs and determine prices in the domestic market, has been quoted at $1,450 per ton.

Albanian importers estimate that prices could face further pressure if the conflict in the Middle East escalates. According to them, reducing the fiscal burden on diesel would be one way to limit price increases at the pumps.

The Strait of Hormuz continues to be at the center of international market attention, as it is considered a key point for energy supplies worldwide. Before the US-Israel war against Iran began, around one-fifth of the world’s supply of oil and liquefied natural gas passed through this strait.

Any blockade of Hormuz or deterioration in the conflict would significantly increase uncertainty in oil markets. In such a scenario, analysts do not rule out the possibility that the price of Platts could approach $2,000 per ton.

Meanwhile, the price of Brent rising above $91 per barrel indicates that traders are factoring in a greater risk of supply disruptions from the Middle East.