April 29 (SeeNews) - Serbia's government said the cap on petrol and diesel retail prices will remain in place until the end of May.
The excise duty levied on petrol and diesel purchases will be reduced by 15% from the levels before March 10, when the government reduced the rate by 20%, the government said in a statement on Thursday.
The cabinet's decision reflects "the current situation with the price of crude oil on the world market and the tendency for further growth, which is affecting negatively the macro economic stability of the country," the statement read.
The maximum retail prices of fuel will be formed by adding seven dinars ($0.062/0.059 euro) to the average wholesale price determined on a national level, the government explained.
At the moment, six dinars are added to the average wholesale price.
The changes enter into force on Friday.
In the latest update, the prices of Euro diesel and Euro premium petrol 95 were set at 196.3, and 174.1 dinars per litre, respectively.
(1 euro = 117.694)