Prime Minister Edi Rama declared that the approval of the normative act to reduce the excise tax on oil by 20% will take effect immediately when the price of oil exceeds 220 lek per liter and the price of gasoline exceeds 200 lek per liter. Speaking on his podcast 'Flasim', Rama said the measure will remain in force until the full stabilization of the international situation.
According to him, this is a proper, timely response that guarantees quick decision-making and will enable citizens, vehicle drivers, not to be abused by oil distributors.
"This week we also approved the promised normative act to reduce the oil excise tax, at the moment when oil, as a result of the impact of the war on international markets, exceeds the limit of 220 lek. So, the reduction of the excise tax by 20% is a measure that takes effect immediately when the price of oil exceeds 220 lek per liter and that of gasoline 200 lek per liter.
These thresholds are predetermined to guarantee a fair and balanced intervention in relation to market developments, which are developments we do not have in hand, we are not the cause of them, and we do not have the power to stop them, except that we have the obligation to treat them in function of cushioning the immediate impact on consumers, without, on the other hand, undermining the stability of public finances at a time when uncertainty in international markets remains high and equally dynamic.
The measure will remain in force until the full stabilization of the international situation, while the Transparency Board, which has been set in motion, will remain a guarantee of any developments in global markets to reflect fairly and verifiably what should happen in the domestic market. This is a proper, timely response that guarantees quick decision-making, embodies full responsibility, and will enable citizens, vehicle drivers, not to be abused by oil distributors. The measures for all those who violate the price set by the Transparency Board, based on market indicators, will be drastic," said Rama.