Oil price increase/ Rama: We are creating a state factor that will play the role of a stabilizer

2026-03-15 10:43:00, Aktualitet CNA

Oil price increase/ Rama: We are creating a state factor that will play the role

Prime Minister Edi Rama has commented on the increase in oil prices, linking it to the impact of the US and Israel's war against the Tehran regime, which has caused disruptions in the global supply chain, especially in the Strait of Hormuz.

He stressed that price increases are inevitable in international markets, but the government is taking measures to protect the domestic market.

A state factor is being created that will play the role of price stabilizer, increase transparency, and guarantee supply, with support from a sovereign guarantee.

In parallel, the Ministry of Economy and the Ministry of Finance have established a joint task force, which will monitor the hydrocarbon market, prevent abuses with fuel prices and analyze the impact on rising food prices.

Also, the draft law on strategic oil reserves is under public consultation and provides for the creation of reserves for periods of 1–3 months, with the aim of citizens feeling the effects of market stabilization in a few months.

Prime Minister Rama described this step as a turning point for guaranteeing stable oil prices in Albania, avoiding the impacts of global fluctuations.

"The first note is inevitably related to the impact of the US and Israeli war, which we fully support against the machinery of the criminal regime in Tehran, on the price of oil.

This is an inevitable increase in all world markets and is happening all over the world precisely as a result of the rupture of the value chain that circulates in trade exchanges at a strategic point such as the Strait of Hormuz.

However, on the other hand, we will not sit idly by in the face of this situation and, as I have stated in fact some time ago, we are today, also due to the conditions of this unexpected crisis, at the moment when we will finalize the creation of a state factor with an impact on the domestic oil market, which will play the role of market stabilizer, will influence the increase in price transparency, and will guarantee supply to the market, supported by a very important capacity such as the sovereign guarantee.

So, I strongly believe that this will be a turning point to fulfill another ambition and commitment made immediately upon the start of the fourth mandate, that the oil traded in Albania be a product at a level not so strongly affected by fluctuations in international markets, and this is completely possible.

In parallel, the Minister of Economy has set up a joint task force with the Minister of Finance, putting the tax and customs administration into action, on the one hand, with the aim of increasing control in the hydrocarbon market and preventing any abusive increase in fuel prices, and on the other hand, to rapidly study the impact on the abusive phenomenon of food price increases.

This proportional group will focus with a detailed plan on the entire fuel trading chain, both wholesale and retail, while prices will be under constant monitoring by the relevant institutions.

Also, the draft law on strategic oil reserves is already under public consultation. It coincides with this situation, but it is an initiative undertaken long before this situation was created.

"It foresees the creation of reserves that extend from one to three months of oil, but as I said before, our ambition goes beyond this and I believe that in a few months, citizens will be able to touch the beginning of a long-awaited change in the fuel market," said Rama./ CNA