The Confederation of Albanian Industries (Konfindustria) called on all government agencies today to urgently intervene and mitigate the adverse effects of the rise in oil prices. Moreover, they also announced that they have drafted a proposals package that will soon be referred to Parliament.
Konfindustria is one of the largest associations that protects the rights and interests of all production and service industries in Albania.
“Soaring oil prices risk turning into a full-fledged energetic crisis in 2021-2022, that could lead to innumerable negative consequences for the entire country,”- read the notice published by the Confederation of Albanian Industries.
“If no immediate and professional action isn’t taken by government agencies, the business sectors, citizens and the national economy will be faced with added costs due to the rise in the price of imports coming in from markets oversees”- continued their statement.
According to the Industry Confederation, the oil market in Albania is characterized by ‘cartel groups and oligopoly’, which in turn means that businesses and citizens are faced with added hidden costs, in addition to the rise in fuel prices.
Konfindustria also made mention of things like poor quality, fiscal evasion and the costs of concessions, as issues that are all present within the system.
“The relevant ministry, government agencies charged with quality control and today’s market regulators, have all entirely failed in enforcing legal obligations onto participators in the oil market,”- continued the statement.
Despite being a country that produces oil, Albania still suffers from soaring oil prices – the highest in the entire region.
Oil prices went up during August-September, reaching the highest point during the last week of September. Liquid gas also saw a rise by up to 60% whereas petrol and gasoline by over 10%.
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