Professor: Government shouldn't interfere with fuel prices

Professor: Government shouldn't interfere with fuel prices

Professor: Government shouldn't interfere with fuel prices Izvor: N1

Slight increase of fuel price in Bosnia and Herzegovina is not a consequence of the increased excise duties on fuel but of the changes in price of barrel on the global market, said professor of the Sarajevo Faculty of Economics Muris Cicic.

“The oil price has increased several times on the global market over the past few months, and it reached the price of USD 80 per barrel, and a direct consequence of this is increase of price for three or four times,” explained Cicic, adding that the fuel price in Bosnia is still the lowest in Europe.

“The fact that the prices are the lowest in Europe is good and needs to be preserved,” he stressed.

Commenting the protest of citizens over the fuel prices and their demand for government’s intervention, Cicic said the authorities should not interfere with this matter and that prices are created on market.

 According to him, the fuel prices will first drop on the global market and then in Bosnia and Herzegovina. However, the professor leaves a possibility of authorities reducing the fuel price insignificantly in order to display themselves as protectors of citizens.

“But citizens should understand it is better for them not to have the government interfere with the prices,” he concluded.

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