Mickoski: Escalation in the Persian Gulf could last for years, government preparing measures

Prime Minister Hristijan Mickoski said that, even after the latest increase in fuel prices, North Macedonia continues to have the lowest fuel prices in the region. He said the government was analyzing options for new measures, but stressed that any steps must be taken carefully.

“Fuel in North Macedonia is half a euro per liter cheaper than in Albania, 35 cents cheaper than in Serbia, and 30 to 50 cents per liter cheaper than in all other countries in the region, including Greece, Croatia, Slovenia, Bosnia and Herzegovina, Montenegro and others. This applies both to unleaded gasoline and diesel,” Mickoski said.

According to him, the figures show that citizens of North Macedonia, as well as residents of some neighboring countries, are traveling to fuel stations in North Macedonia to fill up their vehicles, since the fuel is purchased from the same source. The prime minister added that the government is not concerned only with the citizens of North Macedonia.

“The total volume of gasoline and diesel sold has increased by around 50 to 60 percent in recent months. Despite this, we have maintained macroeconomic stability in the country,” he said.

Asked whether the government would intervene to lower fuel prices, Mickoski said that a plan exists, but implementing it requires prudence.

“Yes, we are planning. We have a clear strategy and plan. According to our analyses, this situation will continue. The situation in the Persian Gulf could last for several years, so we are acting carefully to avoid jeopardizing the country’s macroeconomic stability while at the same time ensuring that citizens and industry in North Macedonia have access to fuel at the lowest prices,” Mickoski added.

The prime minister also stressed that North Macedonia has recorded the lowest inflation rate in the region.

“We have brought inflation down to the lowest level in the region, to 2.3 percent annually in July, while in retail trade it stands at 1.7 to 1.8 percent,” Mickoski concluded.