Bečarević: If oil remains at $110 per barrel, fuel prices at pumps will go towards 3 KM

(Patria) - The price of oil has reached $110 per barrel. Just two days ago, the price of a barrel was $98.

With the price of oil at $110 and if this price remains until the end of the week, fuel prices in BiH will go towards 3 KM next week, says gas expert Almir Bečarević.

Bečarević reminds of the statement by the Prime Minister of FBiH, Fadil Novalić, that the price of gas will be higher from April 1st.

"Energoinvest sent a press release on the same day stating they have no notification of an increase in the price of gas. By the time they agree, the price of gas will be 15-20% higher than the current price from April 1st and will amount to approximately 1 KM per cubic meter of gas.

This means that fuel prices and gas prices will be over 50% higher compared to just a year ago. What should be known is that this is not the end of the gas price increase, and that price could be up to 100% higher, 1.3 KM per cubic meter of gas, and we will have that data in July," says Bečarević.

He reminds that FBiH has no plan B and that by switching to TurkStream, it only uses Russian gas, and all transport contracts with Serbia and Hungary have been terminated. Hungary has initiated arbitration worth $21 million.