In Montenegro, new fuel prices will take effect. The price of BMB 95 and 98 gasoline will increase by two cents per liter, while the price of heating oil will rise to €1.36 per liter, an increase of three cents.
The price of Eurodiesel will remain at €1.43 per liter.
The Ministry also announced that the process for establishing conditions to form strategic oil reserves will begin today, through the collection of a fee on the retail price of petroleum products.
The formation of mandatory oil reserves is crucial for ensuring Montenegro’s energy stability and protecting it from potential global market crises. This measure allows the country to mitigate the effects of sudden supply disruptions, whether caused by geopolitical crises, natural disasters, or market instability. Additionally, the establishment of reserves is in line with European Union practices, where member states are required to maintain strategic oil stocks to ensure market stability, the Ministry stated.
While the creation of strategic reserves involves financial investment, it is important to emphasize that this investment is long-term beneficial, as it enables the country to react swiftly in crisis situations and protects the economic interests of citizens.
The decision to form strategic fuel reserves represents a responsible approach by the Government of Montenegro to strengthen the country’s energy security. The Ministry reminded that the fee will be collected by fuel importers and will serve as a legally prescribed mechanism to finance the reserves, alongside direct budgetary support from the EU for overcoming the energy crisis, with €7.5 million also allocated for this purpose. They also noted that the contractor selection process for the reconstruction of storage facilities is currently underway.
