Minister Vujanović announces fuel price reduction as early as tomorrow

MOSTAR, (Patria) - In the building of the FBiH Government in Mostar, Federal Minister of Trade Zlatan Vujanović held a meeting with leading management representatives of the most significant distributors of petroleum derivatives in the Federation of Bosnia and Herzegovina.

After the meeting, the minister addressed the media and stated that cheaper fuel prices can be expected as early as tomorrow. Over 100 requests from various gas stations have been submitted for fuel price reductions.

The minister clarified that the reduction cannot be less than 5 feninga.

- We discussed everything at the working meeting, from the global situation, reflections of the world market to what ordinary citizens are asking for. Participants said they would review all possibilities. Requests for price reductions have been submitted. The participants are enterprising people and their possibilities are different, but I cannot speak on behalf of others. They promised to do it – said Vujanović.

The meeting was also attended by representatives of the Federal Administration for Inspection Affairs.

The current situation regarding the increase in retail prices of petroleum derivatives at gas stations, as well as pressure from citizens and the executive authorities, led to today's meeting.

The minister stated that activating commodity reserves would not achieve the desired effects and added that such meetings will be held once a month. He believes in the goodwill expressed by the distributors of petroleum derivatives in the Federation of Bosnia and Herzegovina and emphasized that there will be no new price increases.

Oil companies expressed the view that they expect the price of a barrel of oil to rise to 80 dollars, or even higher. 

- Their statements are not mandatory, but the government can introduce margin restrictions and level prices, said Vujanović, adding that prices jumped after Trump's withdrawal from the agreement with Iran.

Vujanović said that oil operators will work on cost rationalization to lower the price.

- Likewise, the meeting between Trump and Kim Jong-un can positively influence the reduction of prices on world markets - said Vujanović.