Hasičević assures: Fuel supply is orderly, decision on margin limits protecting consumers is in effect

(Patria) - Federal Minister of Trade Amir Hasičević stated today in Sarajevo that the Federal Ministry of Trade is continuously monitoring the situation on the oil and petroleum products market in FBiH.

He emphasized that the fuel market in the Federation of Bosnia and Herzegovina operates on the principles of a market economy, but with clear regulatory mechanisms, and that certain measures have already been taken.

- We have implemented clear regulatory mechanisms that include margin limits, inspection supervision, price monitoring through our electronic system FMT Oil, continuous communication with importers and distributors, as well as with customs and relevant services.

These are all measures that directly affect the final price. In other words, the market is free, but regulated - said Hasičević.

He states that in the last few days there have been certain disruptions in regional supply flows, and that today we also have a situation of temporary export restrictions on fuel from Serbia.

- However, I want to clearly emphasize that the supply of the Federation of Bosnia and Herzegovina market is not threatened. I remind you that Serbia has so far accounted for about 11.4 percent of the total supply to the FBiH market, or approximately 1.2 million tons annually.

Imports of petroleum products from the Republic of Croatia currently account for about 73.6 percent of total imports, which represents a stable and reliable supply route - said the minister.

In order to further ensure orderly market supply, he pointed out that in cooperation with the Indirect Taxation Authority and customs services, customs clearance procedures are being accelerated, and extended working hours for inspections at certain border crossings are being introduced to speed up the transit of petroleum products.

- At the same time, we are recording an increased daily consumption of D2, which has risen from an average of about 1.7 million liters to approximately three million liters per day. The increased consumption in recent days is a result of increased precautionary purchasing.

The supply is currently stable and there is no reason to create excessive reserves, as this only complicates the overall market situation. Therefore, we appeal for rational consumption and fuel purchases - says Hasičević.

He adds that in the period from March 1 to 8, there was an increase in the purchase price, which was also reflected in retail prices.

- The price increase is primarily a consequence of global oil market movements. In the period from March 1 to 8, the import price increased by about 0.59 KM per liter, while the retail price increased on average by about 0.39 KM per liter - Hasičević explains.

He reminds that on February 28, the average diesel price was 2.35 KM per liter, and today's average price is 2.74 KM per liter.

- It is important to emphasize that the increase in retail prices is less than the increase in the purchase price, precisely because of the margin limits in effect in the Federation of Bosnia and Herzegovina - Hasičević points out.

He also emphasizes that what the Federation can and does is limit margins, control the market, and stabilize supply.

- I remind you that in the Federation of Bosnia and Herzegovina, the decision on margin limits, which is 0.25 KM per liter at retail, is still in effect, which is an important consumer protection mechanism.

There is no increase in fuel prices without the approval and control of the Government of the Federation of Bosnia and Herzegovina, i.e., the Federal Ministry of Trade, which means that the scope for price increases is clearly defined - Hasičević notes.

He also explains that the price differences between gas stations are mainly due to different purchase prices and stocks.

- Citizens can use the FMT Oil application, through which they can see fuel prices at all gas stations in the Federation of Bosnia and Herzegovina, as well as report any irregularities.

The Federal Administration for Inspection Affairs is conducting intensified controls on the market, and according to the information we currently have, no significant deviations or abuses have been found - said Hasičević.

He adds that excise duties and VAT are part of the broader fiscal policy of Bosnia and Herzegovina and are not directly within the jurisdiction of the Federation of Bosnia and Herzegovina.

- At this moment, it is difficult to give precise forecasts for price movements, but market indicators suggest the possibility of stabilization and a gradual decrease in the coming period.

At this moment, there is no need to activate commodity reserves, because the supply is orderly, there are alternative import routes, and there are no serious disruptions in the supply of necessary fuel quantities on the market - Hasičević assures.

The Government of the Federation of Bosnia and Herzegovina and the Federal Ministry of Trade will continue their activities of constant market supervision in the Federation of Bosnia and Herzegovina in the coming period.

- Our priority remains market stability, orderly supply, and consumer protection in the Federation of Bosnia and Herzegovina - concluded Hasičević.