Minister Kusari-Lila: Oil prices are expected to stabilize in the summer

2026-03-17 14:37:00, Kosova & Bota CNA

The Minister of Industry, Entrepreneurship, Trade and Innovation, Mimoza Kusari-Lila, said that during the summer there is expected to be stability in oil prices.

The world is facing an increase in oil prices after the United States and Israel launched a war against Iran on February 28. Kosovo, a country that is an importer of oil derivatives, has also been affected by this increase.

Since the war in Iran began, oil prices in Kosovo have increased significantly and have reached up to 1.55 euros per liter.

To keep prices under control, on March 4, Kusari-Lila decided to impose protective measures, setting maximum profits allowed for wholesale and retail sales.

During a statement to journalists on March 17, Kusari-Lila was asked how much oil Kosovo has in reserves. However, she said that this information remains with the institutions, emphasizing that "the situation is stable" regarding reserves.

"In relation to the reserves of importers, namely companies that deal with the trading of derivatives, we are also monitoring the reserves. There is no movement, there is no decrease in their reserves. This means that it is still a manageable situation and far from a panic situation," said Minister Kusari-Lila.

She recalled that the US has released part of its national reserve to mitigate the impact on global energy markets, but added that Kosovo has not come to this point and that its industry and economy "are not at the level where they are at great risk."

However, Kusari-Lila said that the further impact of events in the Middle East that are being reflected in fuel prices is inevitable.

"We will do our best and we are making sure that there is no, let's say, abnormal fluctuation. Namely, the measure decided is about keeping it under control, but control within this space which is being shown that the price is moving, but not above the unimaginable or to an extent where it could have a very serious impact for the worse. I am saying that, according to all the information, it could go to a period of time until stability. Here we are not actors, we are consumers of the circumstances that are happening there. But, we are hoping that there will be stability as soon as possible. It is foreseen in the coming months, especially in the summer period, that there will be price stability," she said.

Minister Kusari-Lila said that only two companies have not respected the margin decision.

"There were two companies that violated our decision and the Inspectorate informed me about both companies, which have the first measure of a fine, and the second measure of the withdrawal of the license. It did not come to the second measure, so they stopped at the punishment, at the reaction of the Market Inspectorate," she said.

According to the authorities' decision, the maximum trade margin allowed for wholesale sales is up to 2 cents per liter, while retail sales are up to 12 cents per liter. As the conflict continues in the Middle East, maritime transport through the Strait of Hormuz has declined drastically.

About 20 percent of the total amount of liquefied natural gas (LPG) used in the world circulates through this strait.

US President Donald Trump has acknowledged that there will be an increase in oil prices, but has assessed that this is a "small price" that must be paid in order to eliminate the nuclear threat of the Islamic Republic. /REL