TIRANA, March 20/ATA/ Minister of Economy and Innovation Delina Ibrahimaj said last evening that the government has moved to re-establish the Transparency Board for fuel price monitoring.

During an interview, the minister said that, “The government is also cutting the excise tax by 20%, down from 39.6 lekë.”

She announced the immediate passage of these two acts by the Council of Ministers.

“Our current fuel pricing model is calculated by adding a fixed margin of 3 Lek/liter (wholesale) or 12 Lek/liter (retail) to the Platts price, inclusive of applicable taxes.

Through this mechanism, we aim at price control and no abuse, said the minister.

The minister noted that a government task force monitoring prices since the Middle East conflict began found no evidence of speculation. While international costs surged by 80%, local prices rose by only 24%, indicating stable domestic management.

"The profit margin of companies is around 8-9%, acceptable considering the costs of doing business," said the minister.

Minister Ibrahimaj also stressed that there is work underway to establish a public entity to ensure mandatory fuel reserves.

According to her, the draft law is ready for public consultation.

The minister noted that so far there has been no increase in food prices and that in case of their increase, the government will intervene with support packages for categories in need and pensioners.

Retail oil prices reached 214 Lekë per liter today. /ri/p.s./