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The government has decided to terminate the functioning of the Transparency Board, the mechanism established to monitor and determine fuel prices in the country.
The decision was made during a meeting of the Council of Ministers, while authorities argue that the hydrocarbon market has returned to normal following the stabilization of prices on international stock exchanges and recent geopolitical developments.
According to the government, a gradual decline in fuel prices has been observed in recent weeks, while the situation in the Middle East has calmed down after reaching agreements that have reduced uncertainties in global energy markets.
"Another decision we adopted is related to the end of the special situation in the hydrocarbon market. For this reason, we will discontinue the functioning of the Transparency Board. There have been months of continuous fluctuations in fuel prices.
"In fact, for more than two weeks the price has been decreasing, the situation in the Middle East is now less uncertain. This is also the reason why we decided to suspend the Board. We will be very careful to monitor daily price movements ," said Minister Ibrahimaj.
The Transparency Board was created to monitor price fluctuations and set fuel sales ceilings during periods of high market volatility.
The Board's last announcement was published on June 17, when it was decided that diesel would be traded at 176 lek per liter, while gasoline would be traded at 166 lek per liter.
With the new decision, fuel prices will continue to be determined by market mechanisms, without the intervention of the Transparency Board.
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