Due to the escalating conflict in the Middle East and its potential impact on the global oil market, Montenegro’s Ministry of Energy and Mining held a session today of the Council for Securing the Supply of Petroleum Products. The meeting, chaired by Minister Admir Šahmanović, focused on supply security and fuel price trends.
“The supply of petroleum products in Montenegro is currently stable. We are in constant communication with major distributors, and all analyses indicate continued delivery stability,” said Minister Šahmanović.
However, he warned that oil prices could rise if the conflict escalates or if the Strait of Hormuz—a vital route for about 20% of global oil trade—is blocked. At present, though, there are no specific signs of market disruption in the region.
Montenegro currently ranks among the countries with the lowest fuel prices in Europe. A liter of diesel costs €1.30, which is significantly lower than in neighboring countries: 30 cents more in Serbia, 46 cents more in Albania, and 12 to 13 cents more in Croatia and Slovenia.
The Ministry also cautioned against potential market abuse. It recalled that during 2022, the prices of many goods and services rose permanently, even though fuel prices today are around 25% lower than their peak levels that year.
“In times of global uncertainty, maintaining responsibility is essential. We must not allow crises to be used as an excuse for unjustified price hikes. Citizens must not bear the burden of baseless market manipulation,” Minister Šahmanović emphasized.
The Ministry of Energy and Mining remains committed to monitoring the market, protecting consumers, and preserving economic stability amid challenging geopolitical circumstances.
