FLASH NEWS
Oil price hike, what measures did other countries take?
2026-03-23 20:43:07 / EKONOMI&SOCIALE
The situation in the Middle East remains tense, amid ongoing attacks and rising oil and natural gas prices. In this regard, many countries have undertaken a plan of measures to curb the price increase.
To prevent drastic increases in fuel prices, Slovenia earlier this week decided to lower excise duties on fuels, while Croatia set a ceiling on retail prices of petroleum products and on excise duties on energy products and electricity.
The Serbian government has banned exports of oil, gasoline and crude oil until it reasses
Meanwhile, in Romania, the government is considering restarting operations at the Petrotel refinery, which is owned by US-sanctioned Russian oil group Lukoil and would be able to refine up to 20% of the country's oil, to boost domestic fuel production and curb rising prices.
Romania has strategic and technical fuel reserves, which together exceed 3 million tons, which can cover domestic consumption for about five months. Romania relies on imports for oil, as nearly a third of its annual consumption is met by imports, mainly from Turkey and Saudi Arabia, while the country is a net exporter of gasoline, with the largest buyers including Bulgaria, Ukraine and Moldova.
The Montenegrin government has decided to temporarily lower excise duties on fuel in order to cushion the impact on the economy from rising global oil prices amid the war in the Middle East, the energy ministry said. As of March 24, the excise duty on Eurodiesel will be reduced by 50%, while the excise duty on Eurosuper 98 and Eurosuper 95 gasoline will be reduced by 25%, the ministry said in a statement on Friday.
The government of North Macedonia is cutting fuel excise duty to 10% from 18% to cushion the blow and reduce the impact of global price increases on the economy, Prime Minister Hristijan Mickoski said, amid the US-Israeli war against Iran.
Retail fuel prices in North Macedonia have been rising since before the war, reaching 86.5 denars ($1.6/1.4 euros) per liter for Eurosuper 95, 88.5 denars for Eurosuper 98 and 92 denars for Eurodiesel – an increase of 13 denars per liter for both grades of gasoline and 23 denars for diesel.
In Spain, the government cut VAT on hydrocarbon products to 10% from 21%, as part of measures to cushion the economic blow from the conflict in the Middle East. Madrid is planning to suspend excise duty on hydrocarbons.
Italy has set aside some 417.4 million euros to cut excise taxes on fuel until April 7, according to a decree approved by the cabinet late Wednesday, as Rome tries to find ways to help families and firms cope with high energy costs.
Happening now...
Digital education, how to help students think critically in the age of social media
Mirela Çërraga Karabina
ideas
top
Alfa recipes
TRENDING 
services
- POLICE129
- STREET POLICE126
- AMBULANCE112
- FIREFIGHTER128