WHAT ARE INSPECTIONS DOING Fuel in BiH increased by up to 0.50 KM, fear of rising prices of other goods and services

(Patria) - The price of oil jumped by more than seven percent last night to almost 91 dollars a barrel, the highest since April 2024, and US crude oil by more than 10 percent, to almost 89 dollars a barrel. This is a new fear for the BiH oil derivatives market, especially for drivers.

The situation in the Middle East, economic experts have been warning for days, can lead to a major economic crisis, as energy supply chains, primarily oil and gas, have been interrupted. Precisely because of this, a new increase in fuel prices at gas stations in Bosnia and Herzegovina by 10 feninga can be expected, which would mean that the price of diesel will reach 3 marks per liter.

There are no crowds at the pumps like in previous days, but citizens are still concerned.

Although the situation is alarming, economists point out that there was no reason for fuel prices in Bosnia and Herzegovina to "go wild" this much, assuming that oil trading companies had stocks purchased at old prices.

Aziz Šunje, a professor at the Faculty of Economics in Sarajevo, says that the increase could only occur when a new quantity of oil is purchased at higher prices.

"So, this is oil manipulation by oil companies because they are manipulating quantities they have already purchased at lower prices earlier."

The right moment, according to consumer associations, would be to introduce more intensive inspection controls, but also to bring back the application for monitoring fuel prices at pumps.

Prices, depending on the city in Bosnia and Herzegovina, have increased on average by 20, 30, and more than 50 feninga in the past seven days. At numerous gas stations, citizens filled canisters with fuel, creating stockpiles.

Murisa Marić from the Association of Citizens "Don" from Prijedor says that the application would significantly help drivers because they would see where fuel is cheaper.

"It would also be good for the inspection to be able to control on a daily basis, to enter those prices into the application. All crises are misused in our country, because today it is no longer 20, 30 but over 50 feninga increase."

While inspection bodies claim to be monitoring the situation, this does not reduce citizens' concerns, nor the possibility that the prices of all other goods and services will follow the rise in fuel prices, which would lead to a new round of inflation.

BHRT/Patria