February 6 (SeeNews) - Serbian oil and gas company NIS [BEL:NIIS] said it plans to keep domestic fuel prices below the average for Southeastern Europe (SEE) based on the efficiency of its operations.
The situation on the market is stable and no excessive fluctuations of oil products prices are expected, NIS managing director, Kiril Kravchenko, said during a meeting with Serbian energy minister Aleksandar Antic, according to a company statement issued on Friday.
The factors that could destabilise the market are macroeconomic, mainly the exchange rate of the US dollar, as NIS buys two-thirds of its crude oil abroad, the company added.
On Friday, Serbian daily Blic quoted Serbian central bank governor, Jorgovanka Tabakovic, as saying the decline of the value of the Serbian dinar against the euro in January was due to the strong demand for euros from companies importing energy products.
NIS was among the top five importers to Serbia in the first ten months of 2016, data by Serbian finance ministry showed.
The Serbian currency fell to 123.9595 dinars per euro at the end of January. It weakened to 124.1301 dinars per euro on January 19, its lowest value since the introduction of the single European currency.
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