As of the 1st of February, 2018, petrol prices in Bosnia and Herzegovina have increased.
On 1 February, new prices for motor vehicle petrol came into force in Bosnia and Herzegovina, as a result of the introduction of additional excise duties from which the construction of new roads should be financed. This is an important news for many in Croatia who prefer to buy cheaper petrol in the neighbouring country, reports Večernji List on February 2, 2018.
The petrol in Bosnia and Herzegovina is the cheapest in the region, which is the reason why many inhabitants of the Croatian border regions like to go there. However, in the future, they will have to take into account the additional cost, which means that a 50 litre fuel tank now costs about five euro more than before.
In accordance with the law, that was adopted by the Bosnian parliament in early January, at the insistence of international creditors, the price of petrol in Bosnia has increased by about 10 eurocents per litre.
A litre of the best-selling unleaded gasoline BMB 95 now costs 2.10 convertible marks, which is slightly more than, for example, in Bulgaria, but is still cheaper than in Croatia by about 20 eurocents. A litre of diesel fuel now costs around 2.25 convertible marks, or about 1.15 euro. The highest increase in price will be borne by drivers using liquefied gas, whose price at the pumps has risen from 0.80 marks per litre to 1.20 convertible marks.
The additional excise duties will be forwarded to special bank accounts from which road and motorway construction is expected to be financed.
The International Monetary Fund (IMF), the World Bank (WB), the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) insisted on this, making it a precondition for the activation of already agreed loans worth around 500 million euro for the continuation of the construction of the Vc motorway corridor.
The introduction of new excises is seen by the creditors as a guarantee that Bosnia and Herzegovina will be able to repay loans approved for road construction. However, Bosnian businesspeople have warned that higher fuel prices will inevitably increase their costs, so a new wave of price increases can be expected throughout the country.
Translated from Večernji List.
