At gas stations in Serbia, the supply is regular, and a liter diesel still costs 236 dinars, while the price is petrol 207 dinars.
The government extended the price limit and export ban fuel, as well as the reduction of excise duties for another week, until October 25, and recently 5.000 tons of diesel were withdrawn from state reserves, writes RTS.
Dubravka Đedović Handanović, Minister of Mining and Energy in the technical mandate, stated that the state has sufficient reserves and is ready to intervene in order to preserve regular supply.
"The state is ready to intervene in the market, primarily through its diesel and gasoline reserves, as we have done until now, so that citizens will not lack anything. Prices have not changed since September 18, although they have only increased in the market in the past period. We have enough reserves to react, currently 517.000 tons of diesel and about 104.000 tons of gasoline, so citizens will not lack anything," said Đedović Handanović.
The lack of refinery capacity increases the risk
While Serbia is trying to mitigate the effects of global disruptions, the European market is facing growing demand and shortages of diesel. Experts estimate that price control can alleviate the pressure on consumers, but that long-term stability also depends on the possibility of production and imports.
Croatian "Poslovni dnevnik" journalist Siniša Malus warns that shortages are especially possible in countries that do not have their own refineries. Serbia and Croatia have refinery capacities, which should make them more resistant to disruptions, but neither country can fully rely on domestic production.
Therefore, both countries are still dependent on imports, so the presence of refineries does not mean complete protection against shortages or rising prices.
Global market under increasing pressure
The problems are further aggravated by numerous challenges in the supply of oil and its derivatives. The production of member countries of the Organization of the Petroleum Exporting Countries (OPEC) is not growing enough to remove market pressures, while transportation is becoming more expensive and complicated. At the same time, world supplies of oil and derivatives are decreasing, and investments in new oil projects remain insufficient.
Joseph McMonigle, president of the Global Center for Energy Analysis, also speaks about the scale of uncertainty. He indicates that estimates of future oil demand until 2050, depending on the scenario used, differ by about 100 million barrels. Such a range, he estimates, shows how difficult it is to predict future trends in the energy market.
The price of a barrel of crude oil has remained above $100 for almost a month, while diesel prices have reached new highs. The International Energy Agency also agreed to deliver more than 20 million barrels of diesel from emergency reserves, in an attempt to ease pressure on the market.
Serbia's measures are currently maintaining fuel prices at an unchanged level, but global trends indicate that supply stability will also depend on the development of the situation on the international market. Government reserves can serve as a protective mechanism, but they cannot permanently replace regular production and reliable imports.
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