Fuel (Pixabay)
The ban on importing Russian crude oil via the Adriatic oil pipeline should not substantially affect fuel prices on the domestic market in Serbia, energy experts told BETA on June 6.
"The sixth set of EU sanctions against Russia, which bans the delivery of crude oil from that country through the Adriatic oil pipeline via the Omisalj harbor in Croatia to the refinery in Pancevo, should not push fuel prices up substantially in Serbia, as that energy source is a traded commodity and the price of Russian oil is formed on the global exchange," Nebojsa Atanackovic, honorary head of the Serbian Association of Employers, told BETA.
Atanackovic said the NIS oil company may have been able to supply Serbia with crude oil at cheaper than exchange prices if these latest sanctions had not been imposed, but with the sanctions in place oil will be imported at global prices.
Ljubinko Savic, energy advisor at the Serbian Chamber of Commerce, said Serbia had good oil reserves and that there should be no major issues on the petroleum product market.
He pointed out as a mitigating factor that NIS extracted around 20 percent of necessary crude oil from domestic deposits in Vojvodina.
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