Your wallet will like that! Here is how much you will pay now!

Highway Freeway, Photo: Alo! / Rajko Ristic

Fuel prices in Serbia will be about ten dinars per liter for the new year, compared to what they were in early November, experts and oil company owners said. Thus, the fuel at 159 dinars, as it cost in the first days of November, will be reduced to 147 dinars, and that of diesel, 171 to 162 dinars.

The reason for this sharp decline is the drop in the price of crude oil on the world market, as well as the rise of the Danube level which will refuel the tankers, a mode of transport much cheaper than tanks and trains.

Favorable movements

Srdjan Knezevic, owner of the company "Essence Knez", said that the price of fuel has been falling for weeks and that this trend should continue during the next period.

– Between November 5 and October, gasoline fell by eight dinars per liter, from 159 to 151 dinars, while the price of diesel during the same period decreased by 5 dinars, from 171 to 166 dinars. I think this trend will continue and that, by the new year, gasoline and diesel will be cheaper by three to four extra dinars per liter. This means that if the market situation does not deteriorate dramatically, gasoline for the New Year will cost 12 dinars per liter cheaper than in early November and nine dinars diesel – said Knezevic, before to reveal the reasons for this drastic reduction in the prices of gasoline and diesel:

– Almost all of the oil in Serbia is imported and we therefore depend directly on the price of a barrel on the global stock market. When that price went up, we also had to raise pump prices and now, when it goes down, we lower prices. Of course, we pay when the price is low, because it's better to sell. In addition, transportation costs also affect fuel prices. In recent months, the Danube was extremely low and oil could not reach the tankers, but we had to transport it with trains and tanks, which cost several times more. Now, there is more rainfall, the Danube will grow, the tankers will start again and this will greatly affect the expected price drop for the New Year – he said.

President of "Nafta a.d." Nebojsa Atanackovic explained that the drop in oil prices is the result of the stabilization of the global market and "unsuccessful" sanctions against Iran.

Essence Essence Essence Essence Essence Essence, Photo: Shutterstock

Long-term stability

– What is happening right now is how difficult it is to predict a movement in the oil market. Earlier this month, they all assumed that, because of sanctions announced to Iran, the price of oil would rise significantly, and the opposite occurred, and it fell sharply. The reason is that Iran has continued to sell oil to its major buyers in India and China, as well as to a number of the most developed countries in Europe. The sanctions imposed by America are therefore virtually fictitious. In addition, the Iranians have contributed significantly to this drastic drop in oil prices, as they have lowered the price of oil to maintain a steady customer base despite sanctions – said Atanackovic.

He thinks oil prices will continue to fall in 2019.

– This low price of a barrel of crude oil is the result of the stability of the world market and it could last. In addition, there is no great political turbulence, with the exception of this conflict between Ukraine and Russia, which does not affect the price of oil. All this goes to the inhabitants of Serbia because the prices of gasoline and diesel pumps are lower. This trend should continue, especially considering that transport will again be able to cross the Danube, which is the least expensive solution, says Atanackovic.

He also obtained gas and gas at 83 dinars

Srdjan Knezevic also discovered that in addition to being cheaper gasoline and diesel, the price of liquefied petroleum gas (LPG) has fallen over the past three weeks.

– At the beginning of the month, gasoline cost 85.9 dinars per liter; it is now 83, 4 dinars, or 2, 4 dinars less. This is a significant slowdown especially if you keep in mind that the margins on gasoline are minimal and that we have very little income here – an honest interlocutor.

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