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Oil price increase/ Brace makes opposition statement: They are operating like a cartel

2026-03-11 16:45:00, Aktualitet CNA

Oil price increase/ Brace makes opposition statement: They are operating like a

Socialist Party MP Erion Braçe criticized today in the Economy Committee the way the fuel market is functioning in Albania, describing it as a model that favors price increases through the coordination of associations and majority intermediaries.

Braçe stated that the prices of oil and gasoline are not set according to the market, but through an SMS message that reaches all gas stations, where according to him, the highest price stands at around 198-202 lek per liter and has remained above 200 lek for four consecutive years. He accused the Hydrocarbons Association of functioning as a cartel that guarantees price increases.

He also emphasized that the wholesale market is operating through daily, 10-day and monthly purchases by an external broker, eliminating the principle of deposits and not reflecting the depreciation of the euro in prices for citizens.

"I continue to insist on the fuel market, to be honest, and not just on your actions, but on the market model that they have built for four years, I'm talking about four years. Yes, those are the prices and they were set with a message. The price of oil changed yesterday at 4:00 PM according to an SMS received by every gas station manager.

The price is higher for branded products, so the highest price is 198-202 lekë, which is a personal challenge for them. They have been struggling with this 202 lekë for four years; when they had it four years ago, they had a challenge not to lower it below 200 lekë and always raise it above 200 lekë.

They have changed it with an SMS and I am trying very hard to collect those SMS and send them to you and, above all, under the dictate of an association that guarantees the cartel, which is the Hydrocarbons Association. These SMS are not simply sent by company executives, but these SMS, especially to the white spots, are sent by officials of the Hydrocarbons Association. So the Hydrocarbons Association functions as a cartel to guarantee the increase in prices in this case.

You are right to monitor the retail market, but the problem is where I told you, in the wholesale market. What is the market model that the gentlemen have built? These people no longer buy oil on the stock exchange; they buy from a broker who brings the oil to the territory. It is this broker who comes and pours the oil into their deposits at different times and they buy and sell at the price of the day they come out of the deposit. This market model has removed all the advantages of long-term purchases of oil quantities, or has passed it on to this broker, who is not an Albanian tax entity and is not registered with the Albanian tax authorities, who receives these benefits of long-term purchases.

On the stock exchange today you buy daily, 10-day, 30-day, 3-month and 6-month oil. Today, if you enter the stock exchange, you buy with these terms and these purchases in the Albanian market are made by this broker. They have even completely eliminated the principle that a deposit should function.

"The dollar is on the ground, so transactions are carried out in dollars. The euro has depreciated, which is an important element in the price, but this has not been reflected because this market model does not allow for this," he said./ CNA