Minister: Fuel prices ‘could go down’ next week

NEWS 29.03.2022 16:47
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Source: N1

Economy and Sustainable Development Minister, Tomislav Coric, said on Tuesday that fuel prices could go down next week again, and that in case they escalated significantly for a longer period of time, the government could again resort to reducing excise taxes.

Coric told reporters this after a meeting of the ruling coalition partners, when asked how the government planned to respond since fuel prices have gone up again.

As of Tuesday, Eurosuper 95 is sold at most petrol stations in the country at HRK 12.45 per litre, HRK 0.61 more than on Monday, when it cost HRK 11.84 per litre on average, while the price of Eurodiesel has gone up by HRK 1.49, and prices of premium fuels have also increased.

Coric said that last week had brought an increase in fuel prices in reference markets and the increase was primarily due to an increase in prices of diesel and blue-dyed diesel, and slightly less of petrol.

“It is encouraging that the first two days of this week have brought a drop in fuel prices in reference markets and if that trend continues, next week we will have again a drop in prices. Until then, we will not respond,” he said.

Fuel prices have been oscillating for weeks but should they escalate more significantly and over a longer period of time, the government “would possibly again resort to (reducing) excise taxes” as “it has no other significant instruments,” he said.

No marked rise in electricity prices other than the one announced, no rolling blackouts planned

As regards the increase in electricity prices, reporters asked the minister if citizens should fear the increase would be higher than the government’s projection of 9.6%, to which Coric said that the 9.6% increase was calculated based on the consumption of the average household in Croatia.

“The increase is as has been communicated. Whether it will be 8.7% for someone or 10.1% for someone else, depends on the size of the household and monthly consumption… however, an increase that would be more significant than the one announced will not happen,” he said.

Coric also said that Croatia was not at risk of rolling blackouts and that it meets most of its electricity demand from own production, with imports constituting only a smaller portion.

Speaking of today’s coalition meeting, he said that one of the topics discussed were renewable energy sources.

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