Fuel consumption in Albania continued to decline in July, while the data of the first days of August show that the downward trend has deepened.

According to data from Customs, 53.4 thousand tons of fuel were imported in July, with a decrease of 11 percent compared to the same month of the previous year, going down almost to the level of 2020, when the country was suffering from the consequences of restrictions due to the pandemic.

The Association of Hydrocarbon Companies claims that in general, in this period, imports were expected to increase by 2 thousand tons (about 3-5 percent more), but they have actually decreased by almost 7 thousand tons.

According to the Association, the main reason for the decrease in fuel consumption in the country is related to cars coming from the region for tourism, which were one of the main factors influencing the increase in the summer season.

Now, due to the high price difference, at around 30-60 lek per liter, no car with a license plate from Kosovo, North Macedonia or Montenegro approaches the Albanian fuel stations.

While the cars of the region have influenced 60 percent of the decline, the rest according to the Association is related to the inhibition of internal movements for tourist purposes, or that have reduced circulation due to high prices.

While the minimum permanent consumption, according to the Association, is at almost unchanged levels.

The decline is expected to deepen in August

According to preliminary data from the Association of Hydrocarbon Companies, the trend of the first days of August shows that the decline will deepen.

In the first five days of August, consumption fell by 3.6 thousand tons, while if this rate continues, the monthly contraction could be -15 thousand tons.

In August last year, according to Customs, fuel imports reached a record of 68.6 thousand tons.

The reasons remain the same as in July.

"July and August always reach the peak of consumption and a large part of this comes from the region.

But now the price difference for one liter has reached 30 to 58 lek from Montenegro to Macedonia", said the Association.

This difference is related to the high taxes on domestic oil, as in addition to the main taxes such as VAT and circulation, there are many others that "nobody" in the world has".

Since the beginning of March, fuel prices have increased significantly in the country, culminating in 265 Lek in the middle of June, as a result of the increase in prices in the stock market.

Currently, oil is being sold at 217 ALL per liter, or 13 percent more than in February.

Since March, when the price hike began, consumption reflected the contraction.

For the first 6 months of the year, fuel imports fell by 9.2 percent compared to the same period a year ago.

Only for the 5 months March-July, the contraction is 14.5 percent.

/Monitor/