Petrol and diesel got around 1.5% cheaper on world markets, but at Macedonian pumps the price doesn't budge

The Energy Regulatory Commission (RKE) decided that petrol and diesel will be sold at their current prices for another week. From 00:01 on October 14, Eurosuper BS-95 still costs 98.50 denars per litre, Eurosuper BS-98 100.50 denars, and Eurodiesel 97 denars. The price of extra light household heating oil is also unchanged, at 108.50 denars per litre.

On world markets, meanwhile, fuels got cheaper. Compared with the previous calculation, reference prices fell on average by 1.56% for petrol, 1.48% for diesel and 1.46% for extra light heating oil. But the denar's exchange rate against the dollar is 1.29% higher, and oil is paid for in dollars. The two movements almost cancelled each other out, and nothing changed at the pump.

Only heavy fuel oil goes up, by 2.145 denars per kilogram, to 51.742 denars, after its reference price rose by 4.08%. On average, for all fuels together, RKE calculates an increase of 0.87% compared with the October 5 decision.

Pump prices are already being held down by the state too: the calculation applies the reduced 10% VAT on diesel and the excise duty cut of 4 denars per litre on petrol and diesel. Last week, with lower world prices, diesel got three denars cheaper and petrol a denar and a half cheaper.

RKE's formula is public, and this time it's simple: what the exchange took away, the dollar gave back. At the pump, citizens see it as an unchanged price and one more week in which the price drop stayed on the exchange. Whether the next calculation brings anything different depends on both oil and the dollar.