The government set up the National Board on the Management of Fuel a day ago, in a bid to curb any speculation on fuel prices as a result of the conflict in Ukraine.

Prime Minister Edi Rama announced that the national board to control speculation on oil prices in the country will become operational starting Saturday.

A Normative Act with the power of a law today will define the framework of obligations and limited rights of fuel suppliers for a two-month period that can renewable according to the development of the war.

The government head underlined that the companies’ profit margins will be frozen in effort to prevent speculations on fuel prices at the expense of the citizens.

“Good morning and with the confirmation that with the National Board on the Management of Fuel established, oil prices will go through the filter of transparency, whereas the profits margin for the companies will be frozen in order to prevent any speculations at the citizens’ expense, I wish you all a nice weekend,” Rama said.

The National Board on the Management of Fuel will include representatives from the Finance and Economy Ministry, Infrastructure and Energy Ministry, the Directorate of Tax and Customs, the head of the Competition Authority, and representatives of major oil suppliers in the country.

At a meeting with representatives of main oil suppliers, PM Rama warned that all gas stations across the country will be banned from selling fuel at different prices to those approved by the Board. Gas station owners have been warned that their licenses will be revoked if they are caught trading oil at higher prices.

/u.sh/