New fuel prices in BiH from February 1: Diesel goes over 2 KM

Diesel euro 5 at gas stations from February 1 will cost 2.09, unleaded gasoline 2.08, while gas drivers will pay at the price of 1.10 KM per liter.

This will be a new price list for gas stations because of the new Law on excise taxes that comes into force on February 1, which foresees an increase in excise duties and tolls and a tax on petroleum products. So much will cost oil derivatives, but on condition that in the meantime there is no price increase.

The secretary of the Oil and Petroleum Products Group in the Serbian Chamber of Commerce, Zoran Berak, confirmed for "EuroBlic" that from February 1, distributors will be forced to increase the price of diesel and gasoline by 0.15 KM per liter plus value added tax, which is together 0.18 KM.

- We note that this increase goes exclusively to the state treasury, and that distributors will only be affected by the increase in prices due to the expected drop in turnover - claims Berak.

In addition to increasing the tax on diesel and gas fuels, the new Law on Excise, it says, is also introducing a fee for roads and highways for liquefied petroleum gas, ie gas in the amount of 0.15 KM per kilogram for roads and 0.25 KM per kilogram for highways. This means that this fuel will increase by 0,40 KM per kilo plus VAT. Thus, a liter of gas, according to the calculations of oil producers, will increase by about 0.30 KM. Now it costs an average of 0.80 KM.

This tax has not become so far, which will be a significant blow because a lot of drivers use this fuel. The new Law on Excise also envisages the addition of excise on biofuels and biodiversity in the amount of 0.30 KM per liter plus toll on this derivative in the amount of 0.40 KM per liter. This means that the new fee for citizens who use this derivative will amount to 0.70 KM per liter.

"Everywhere in the world, the use of biodegradable fuels has been stimulated in order to reduce the use of polluting fuels, while introducing new levies to liquefied petroleum gas, which directly distorts the use of this energy source," Berak said. And the excise on oil for heating from 0,30 to 0,45 KM per liter will also be increased. Berak noted that this law also stipulates the obligation to submit census lists of oil and petroleum products stock, which distributors are obliged to hand over and that within 10 days they will pay and new intentions on already existing oil and petroleum products.

- The Plenum of the Oil and Petroleum Products Group at several recent sessions discussed the announced increase in the allocation for motorway and other road charges in the Law on excises in BiH. On several occasions we have opposed the introduction of a taxi. However, oil and petroleum distributors will react in line with the changes, Berak adds. The adoption of the Law on Excise Law was one of the conditions for the continuation of the arrangement with the International Monetary Fund (IMF), and the unblocking of nearly a million euros of loans from the European Bank for Reconstruction and Development for BiH.

- Now that the law has been adopted, funds for the construction of roads that are agreed with creditors will be debited, amounting to EUR 528.45 million, said the Minister of Finance and Treasury of BiH Vjekoslav Bevanda.

Bevanda states that the grants secured by BiH's Accession to the Transport Community will be unblocked and the corridor will be able to build on a much faster pace. Otherwise, this law was adopted at the end of December at the House of Representatives, from the fifth attempt. IMF, BH, BiH to pay 148, 2 million KM Nadim Ilahi, the head of the IMF for BiH, said the remaining conditions for the continuation of the arrangement with the IMF should be fulfilled in January, and expressed the hope that a tranche of KM 148.2 million will be paid in the first two months of this year . He said that BiH recently fulfilled two important measures - the adoption of the RS budget for 2018 and amendments to the Law on Excise, which will allow the release and unblocking of large funds.

• 8 Jan, 2018
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