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Croatia skips cap on motor fuel retail prices

Author Annie Tsoneva
Croatia skips cap on motor fuel retail prices Photo: INA

ZAGREB (Croatia), December 6 (SeeNews) - The Croatian government decided to abolish the cap on retail prices of petrol and diesel that it introduced some two months ago, as global crude oil prices have started to decline, economy minister Tomislav Coric said on Monday.

“The limit will be removed as of Tuesday because the conditions on the international oil markets have stabilised,” Coric told a cabinet meeting, according to a video file published on the government's website.

In mid-October, the government capped the maximum retail price of petrol at 11.11 kuna ($1.7/1.5 euro) per litre, while the maximum price of diesel was set at 11 kuna.

If necessary, the government intends to use this measure again, Coric said.

(1 euro = 7.526 Croatian kuna)