Gasoline and diesel prices in Macedonia are rising dramatically for the second consecutive week, as a consequence of US and Israeli military actions against Iran that caused crude oil prices to surge on global markets.

Gasoline is increasing by 7 denars and diesel by 6.5 denars per liter, the Energy Regulatory Commission announced. The new prices take effect at midnight.

Besides crude oil prices, the final price is also affected by the dollar exchange rate, which has also risen due to Middle East tensions.

According to the Commission's methodology, up to 49.9 percent of the gasoline price is determined by the global market, and up to 54.6 percent for diesel. State levies account for up to 43.2 percent for gasoline and 36.6 percent for diesel.

The methodology does not allow direct price controls, but authorities can reduce the excise tax by up to 4 denars or cut the import VAT from 18 to 10 percent in crisis situations. Drivers formed long lines at gas stations trying to fill up at the old prices.