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Shkruar nga Pamfleti
In April 2026, imports of oil and fuels into Albania were 35% more expensive compared to the same period a year earlier.
This strong growth came as a result of the escalation of the military conflict in the Middle East, which has created great uncertainty in the main maritime oil transport corridors, such as the Strait of Hormuz.
One kilogram from the "fuels" group, which is dominated by oil and gasoline, was imported at a price of 101.9 lek per kilogram in April 2026 or 35 percent more than April 2025 where one kilogram was imported at 75.3 lek (prices were calculated by dividing the total value of imports of the "Mineral fuels" group by the corresponding quantity in kilograms).
Analyzing the prices per kilogram of fuel imports since the beginning of the year, in January 2026, this indicator was 55.2 lek per kilogram, significantly lower than the level of 84.2 lek in January 2025. February also showed a restrained situation with 69.4 lek per kilogram, compared to the peak of 96.8 lek that this group of products had reached in February 2025.
Iran's involvement in military conflict on February 28, 2026 has created an immediate panic in the stock markets, forcing marine insurance companies to increase risk premiums for ships sailing in this region to extreme levels.
This increase in insurance costs, combined with the decision of many shipping companies to avoid risky routes by choosing longer routes around Africa, has led to an immediate increase in maritime transport costs. Although the physical quantity of oil may be available, the cost of bringing it to our ports has increased.
The effects of this shock on import prices are expected to be felt widely and with a domino effect throughout our country's economy. Oil and its by-products constitute the primary energy source for transporting goods and passengers, which means that any increase in their cost is transferred almost immediately to logistics and distribution companies. This increase in transportation costs automatically increases the cost of every other imported or domestically produced product, from basic food products to construction materials, causing a new wave of inflation.
Beyond transportation, the industrial and domestic production sectors, which rely on fossil fuels, will face rising production costs. In the most likely scenario, the costs are transferred to citizens, causing the purchasing power of Albanian families to decline and consumption to shrink./Monitor
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