President of the Oil Association criticizes: Oil prices have fallen, why aren't food prices lower?

President of the Association of Oil and Petroleum Derivatives Traders Milenko Bošković criticized in an interview for the Bosnian news agency Patria the fact that the drop in oil prices on the market of Bosnia and Herzegovina is not followed by a drop in the prices of basic foodstuffs in the country, because traders previously justified high prices of basic foodstuffs with high oil prices.

Bošković said that compared to last year, a drop in oil prices per liter of up to 30 percent was recorded in BiH, which, he said, is a very significant drop, but unfortunately, this did not result in a drop in the prices of basic foodstuffs in BiH.

- If we are a socially sensitive society, and we claim we are, the authorities should react and demand a reduction in other prices in the country – warns Bošković.

The price of crude oil on the world market is in constant decline. A barrel of oil on the world market today has fallen to around 48 dollars. The price drop is also being followed by gas stations in BiH, and they are currently heading towards 1.80 KM per liter.

Bošković says that no one can predict to what level prices at gas stations in BiH will fall, and how long this situation will last.

Fuel prices in BiH, Bošković explains, depend not only on prices on the world stock exchange, but also on the situation in the region, as well as several other factors.

According to his information, from next Tuesday the price of oil on the stock exchange will rise, but this again does not necessarily mean that fuel at pumps in BiH will also become more expensive.

Bošković says that citizens should know that a liter of fuel in BiH is burdened with about 1 KM in customs duties, VAT, road allocations, transport costs, etc. Even if someone were to give BiH oil for free, upon entering the country it gets a starting price below which it cannot go much, writes NAP.