{"id":21679,"date":"2021-10-03T15:34:43","date_gmt":"2021-10-03T13:34:43","guid":{"rendered":"http:\/\/euronews.al\/en\/?p=21679"},"modified":"2021-10-03T18:43:57","modified_gmt":"2021-10-03T16:43:57","slug":"rise-in-fuel-prices-a-direct-result-of-the-global-energy-crisis-says-pm-rama","status":"publish","type":"post","link":"https:\/\/euronews.al\/en\/rise-in-fuel-prices-a-direct-result-of-the-global-energy-crisis-says-pm-rama\/","title":{"rendered":"Surge in fuel prices, a direct result of the global energy crisis, says PM Rama"},"content":{"rendered":"

PM Edi Rama stated earlier today that Albania is currently going through what is known as the worldwide energy crisis, which is predicted to determine the rise in the price of electricity and oil, until the first 6 months of next year.<\/p>\n

Calling it a \u2018natural misfortune\u2019, Rama guaranteed, during a press conference, that similar to the earthquake of November 2019 and the pandemic, Albania \u2018won\u2019t fall nor give up, in the face of challenges of this nature\u201d.<\/p>\n

Rama also argued that the reopening of economies following the restrictions imposed by the pandemic has significantly raised the need of the industry for energy, which in turn has increased the demand for electricity and oil.<\/p>\n

\u201cThe high rate of recovery after the pandemic and the amplified need for energy have led to results like the rise in the price of gas by around 250%, the rise in fuel prices, from $60 dollars a barrel in August to $80 dollars as we speak and according to projections, the price is set to reach $100 per barrel by the end of the year\u201d- said PM Rama.<\/p>\n

\u201cFor Albania, the average annual price for buying energy from imports has almost tripled compared to last year,\u201d \u2013 continued Rama, adding that experts have estimated that this situation will continue through to the first 6 months of 2022.<\/p>\n

Rama also noted that various researchers have also mentioned the fact that possible contributing factors might be the different trading manoeuvres, geopolitical influences as well as global warming, which has brought natural calamities like floods, prolonged periods of cold or hot weather \u2013 all of which might have contributed to the need for more energy.<\/p>\n

Rama also stated that economically strong countries like the US, China, Great Britain, Germany or Italy are also at risk.<\/p>\n

In conclusion, Rama pledged that his administration will do \u201cthe impossible\u201d or whatever it takes, in order to minimize the effects of this crisis.<\/p>\n

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