Podgorica, (MINA-BUSINESS) – It was announced following a meeting of the Council for Ensuring Secure Supply of the Petroleum Products Market that there is no shortage of petroleum products in Montenegro, nor is there currently a risk of disruptions in market supply.

At the Council meeting, initiated by the Minister of Energy and Mining Admir Sahmanovic, it was concluded that supply is currently functioning in a stable manner, while global developments in energy markets and volatility in exchange prices pose a broader challenge faced by many countries. 

“The interests of citizens and stable market supply remain an absolute priority, alongside efforts to find sustainable solutions through dialogue with the business sector,” the press release said following the meeting, which was attended by permanent members of the Council and representatives of most oil companies operating in Montenegro, as well as the Association of Oil Companies.

The meeting addressed the challenges faced by some energy companies, particularly smaller firms that import petroleum products by road, without their own storage capacities, at exchange prices on the day of delivery.

“In conditions of rising exchange prices, which are currently higher than the regulated retail prices in Montenegro, these companies face more difficult business conditions,” the press release reads.

Representatives of oil companies believe that amendments to certain elements of the existing regulation should be considered, including changing the calculation period for forming petroleum product prices, which currently stands at 14 days, as well as the possibility of reducing excise duties.