Oil price rises again, reaches 215 lek per liter / Debate on the Transparency Board returns

Oil has changed again, going to the retail market at 215 per liter. A recent observation at the points of sale shows the most recent increase from 199 lek to 215 per liter, reflected after fluctuations in international stock markets.

Since June until now, in mid-August, oil has undergone continuous ups and downs. The price set by the Transparency Board, restoring the pre-war price of 176/l, after its repeal with this decision, has changed significantly, the market has become 22.2% more expensive for the sale of oil.

On June 17, Brent oil cost $80 per barrel, while today, when it has increased to approximately $88 per barrel, Albanian consumers buy oil for 215 lek per liter, which means 39 lek more. Experts emphasize that movements on international stock exchanges do not always translate with the same speed and accuracy into prices for the domestic market.

A day ago, oil was imported into Albania at $1,372 per ton, only $10 more per ton compared to August 12. While at the beginning of August, when oil was traded in our country at 199 lek per liter, the import price according to the Customs Directorate turned out to be $1,243 per ton on August 7, about $130 more calculated after a week.

Global data shows that with today's rise to nearly $88 a barrel, it has gained more than 5% this week, as the US increased economic pressure on Iran to reopen the Strait of Hormuz. The International Energy Agency also warned of a deeper global supply deficit, predicting the largest deficit in five years in 2026.

These fluctuations have also affected the market in Albania, increasing costs for Albanian consumers, who seem to be seeing the need to re-establish the Transparency Board to monitor oil sales prices and impose restrictions on traders.

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