Fuel prices in Serbia continue to drop – Average price of a liter of petrol RSD 132

It was expected that the consumption of petroleum products would grow and recover the world oil market this summer. However, it didn't happen last week – the market price of a barrel fell down below USD 40. At local pumps, the prices vary, but the effects of cheap oil are not yet visible. Nevertheless, if fuel is purchased at right places, using credit card discounts offered by all companies, the bill can be up to 10% lower per tank.

According to the data by the Association of Oil Companies of Serbia, for the second week in a row, depending on the type of a petroleum product, prices are minimally reduced, by RSD 0.30 to 0.50. Compared to the countries in the region, Serbia is in the middle regarding the prices of petrol and liquid petroleum gas (LPG), whereas, regarding the price of diesel fuel, it is among the most expensive countries.

– This degree of changes of the prices of raw oil cannot be regarded as a long-term trend of either growth or fall, so it will certainly not reflect on retail prices at petrol station. However, if such a fall is recorded in a longer time period, it will certainly spill over to petrol station in a month – says Tomislav Micovic, secretary general of the Association of Oil Companies of Serbia.

The average price of a liter of petrol is RSD 132, of eurodiesel RSD 138, and of autogas RSD 68. Lower prices can be found depending on where fuel is purchased.

Even the prices of fuel produced by the same company vary by five to eight dinars from pump to pump. It's possible to save by not purchasing fuel at highway petrol stations, as the prices there are the highest.

The world oil market is overloaded with supplies, especially of petrol. The demand is significantly lower than expected, so the analysts estimate that the price of a barrel will stay at around USD 40.

– As the fall draws near, it becomes clear that the demand will remain low. This is why, generally speaking, there's not a lot of it indicating that it's justifiable to raise the prices – the economist Jeremy Cook says.

It's also worrying that, due to low prices of raw oil, even the largest oil giants have stopped investing. This could lead to great disturbances in supply chains in the years to come.

Udruženje naftnih kompanija Srbije Beograd

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