Fuel imports increased by 10,000 tons for the first four months of 2020

Despite the closure of the economy, fuel imports are on the rise for the first four months of this year. According to data from the General Directorate of Customs, in four months in Albania were imported almost 151 thousand tons of fuel, increased by almost 10 thousand tons compared to the same period last year. It is estimated that the closure of most businesses and the restriction of the movement of citizens has led to a significant decrease in fuel consumption during the period between March and May. But despite this, in April traders turned to increased imports, which is probably related to the exploitation of favorable price conjuncture.

In April, the panic of the Covid-19 epidemic lowered the prices of crude oil to negative values ​​for the first time in history. This was followed by a gradual drop in fuel prices on stock exchanges for future dates. It is thought that this moment may have been exploited by importers to buy and increase reserves.

Over the next few weeks, oil prices normalized and crude oil is now on the $ 40 per barrel limit. However, the future remains extremely precarious, due to the unpredictable dynamics of Covid-19 pandemics.

Currently, the prices of gasoline in the retail market have dropped to about 145 lek per liter. Based on INSTAT data, the inflation of the transport group, which is mainly determined by fuel prices, has been declining for the last three months. For May, the annual inflation of this group was negative at 3.7%.

*Material i përgatitur nga portali SCAN. Ripublikimi mund të bëhet vetëm kundrejt citimit të autorësisë dhe burimit origjinal.