ZAGREB, 19 October, 2021 - Economy and Sustainable Development Minister Tomislav Ćorić wrote on Twitter on Monday evening that due to the continued rise in oil prices we would have seen a hike in fuel prices at petrol stations if the government hadn't decided to temporarily cap fuel prices last week.
"Oil prices have continued to rise and if the government hadn't intervened, tomorrow we would be witnessing a significant price rise. According to calculations, compared with the price set by the decree, the price of Eurodizel would be higher by HRK 0.63, of Eurosuper 95 by HRK 0.39, while the price of Eurosuper 100 would exceed HRK 12 per litre," Ćorić wrote.
He also said that current data indicated that the global market should stabilise by the end of the year, "and we continue monitoring the prices and trends on the oil market and will soon be using all available mechanisms to alleviate the pressures on the economy and citizens' standard".
Last Thursday, the government passed a decree limiting the retail price of petrol, including Eurosuper BS 95, Eurosuper BS 98 and Eurosuper BS 100, to HRK 11.10 (€1.48) per litre and the price of diesel, Eurodizel BS, to HRK 11.00 (€1.46) per litre for the next 30 days. The decision was based on Article 9 of the Petroleum and Petroleum Products Market Act.
That article states that the government can pass a decree limiting the retail price of petroleum products for an uninterrupted period of up to 90 days in order to protect consumer or for other justified reasons.
Last week, oil prices on the London market rose for the sixth consecutive week, and they also continued to grow on Monday, reaching a new record high in three years.
