The price of oil increased by 14 lek per liter on Thursday, compared to the previous day, trading at Lek 214.

The Minister of Infrastructure and Energy, Enea Karakaçi, asked by journalists about the increase in oil prices and the measures expected to be taken, reiterated that there will be no fiscal revisions on fuels.

In a press conference following the government meeting, Minister Karakaçi warned companies to be cautious with prices, emphasizing that the Transparency Board, which sets the ceiling prices, can be established quickly with a Council of Ministers decision.

"We have followed a different model, the circulation tax is in all EU countries, some countries collect it at gas stations, some in vehicle tax payments. We have judged and assessed that collecting the circulation tax at the gas station is the best tool because those who use the car more pay more tax. We are dynamically following the fuel market and what is happening in the region. There are different models; we do not have a decision-making board. This board is there and can be created by a decision of the Council of Ministers. The mechanism is there; it can be established by a decision of the Council of Ministers. We have assessed that with messages through the interest group, they will understand the importance themselves. It is there, it can be established very quickly".

Minister Karakaçi also stressed that there will be no shortage of product on the market. “According to all the information we have, the Strait of Hormuz does not pose a supply problem for Albanian supplier groups. Over 90% of the supply comes from other sea routes,” said Karakaçi.

Following the proposal of the Hydrocarbons Association to abolish the fuel turnover tax and transfer it to a fixed vehicle tariff, through an amendment submitted to the Assembly, opposition MPs have requested a reduction in the turnover tax.

Furthermore, the Council of Ministers approved the revision of the agreement with the European Bank for Reconstruction and Development and the OSHEE Group company, guaranteed by a sovereign guarantee from the Ministry of Finance, for the underground electrical substation in Tirana.

The Minister of Infrastructure and Energy, Enea Karakaçi, announced to the media after the government meeting that this agreement is very important for the continuation of ensuring the energy supply of the city of Tirana and to respond to the pace of the city's development. "This agreement foresees the construction of a modern underground model substation in the area of ??'Skanderbeg' square, behind NTOB," said Karakaçi.

The Minister emphasized that this will be among the rare underground substations found in the EU, because they have their own technical specifications.