
Instead of using this reduction to breathe life into the economy and ease the burden on citizens with the reduction in oil prices, the Board has apparently decided to think about lining its own pockets...
Oil prices fell sharply on international markets today, following the announcement that the Strait of Hormuz has been fully opened to commercial ships during the remaining period of the ceasefire.
According to the latest market data, the price of Crude Oil reached $84,621 per barrel, marking a decrease of $10,069 or -10.63%. Meanwhile, Brent crude oil fell to $89,825, with a decrease of $9,565 or -9.62%. These are some of the biggest daily declines in recent months. In addition to oil, gasoline also fell by -6.70%, while European natural gas fell by -8.22%.
This drop came shortly after Iranian Foreign Minister Abbas Araghchi declared that the Strait of Hormuz has been fully opened to all commercial ships, in line with the 10-day ceasefire between Israel and Lebanon.
Meanwhile, in Albania, the 'famous' transparency board met 1 hour before the opening of the Strait of Hormuz was announced and published the new prices, which increased from those of the last meeting.
At today's Board meeting, it was decided that the retail price of diesel will be no more than 210 lek/liter, an increase of 3 lek. Meanwhile, gasoline increased by 2 lek and will be sold at 176 lek/liter.
Even though the price on the stock exchange has suffered a more than $10 discount per barrel, due to the decision of the Transparency Board, Albanians will continue to pay more for oil.
This strategy used by the government could have resulted in millions of euros in profits for oil companies and the state, if the Board no longer meets during the two-day weekend break. Instead of using this reduction to give the economy a breather and ease the burden on citizens with the reduction in oil prices, the Board has apparently decided to think about lining its pockets./ Pamphlet
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