The decision to reinstate the Transparency Board came into effect today, three months after it was dissolved. The reinstatement of the Transparency Board comes as the price of diesel has reached 229 lek per liter and gasoline 219 lek.
The Transparency Board is tasked with setting the ceiling prices for fuel in the country, preventing fuel supply companies from abusing prices. The prices, which are determined by the Board during the special situation, are mandatory for all entities that carry out activities in the field of trading oil and gas by-products in the country, according to the provisions of the legislation in force.
The Ministry of Economy and Innovation, the Ministry of Infrastructure and Energy, the Ministry of Finance, the General Directorate of Taxes, the General Directorate of Customs, as well as entities licensed for wholesale and retail activities in the hydrocarbons market are responsible for implementing the decision.
The Minister of Economy, Delina Ibrahimaj, said yesterday that in parallel, the excise tax on fuel will be reduced by 20% whenever the retail price of diesel exceeds 220 lek per liter, and that of gasoline exceeds 200 lek.
“Since we have made a decision in advance, where whenever the price exceeds 220 lek, we will activate a mechanism to reduce the excise tax in order to reduce the price, the only mechanism with which we could activate this mechanism was to re-establish the Transparency Board,” said Ibrahimaj.