BELGRADE (Serbia), May 16 (SeeNews) – Gas prices in Serbia will continue to fall through the first quarter of 2017, the director of the country's gas distribution monopoly Srbijagas said.
“When it comes to gas prices calculated in US dollars, they will surely continue to fall through the last quarter of this year and the first of 2017, which is definitely good news,” Dusan Bajatovic told local broadcaster N1 TV on Sunday.
The Srbijagas offcial noted that global oil companies expect that in the next 18 months oil prices will stand at around $50 (44.2 euro) per barrel, adding that such prices correspond to $170 per 1,000 cu m of natural gas. If oil prices climb up to $60 or $70 per barrel, gas prices should be $200 and $230 per 1,000 cu m of natural gas, respectively.
Serbia meets almost 90% of its gas needs with imports from Russia, leaving it less room to influence prices on the domestic market.
In March, Serbia's energy regulator approved a 12.7% cut in the regulated wholesale gas price as of April 1 - the fourth cut in a row in the quarterly-defined gas price bringing the total reduction since July 1, 2015 to 33%.
With the latest price revision, household consumers pay 11.8% less for gas.
Some 249,000 Serbian households, or 10% of the total, have access to gas.
(1 euro=$1.1313)
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