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Vujanović: Oil prices should be adjusted by 11:59 pm tonight

Text: Vanja Tolj, FENA Photo: Almir Razić

SARAJEVO, April 9 (FENA) – FBiH Trade Minister Zlatan Vujanović said today that oil prices need to be adjusted by 11:59 pm tonight.

The Government of the Federation of Bosnia and Herzegovina has made a decision today to prescribe measures for direct control of oil prices. The Government of the Republika Srpska shortly thereafter decided to follow the decision of the FBiH Government. This decision prescribes maximum allowed margins in oil trade, which were as high as 0.50 KM per liter, and are now limited to 0.25 KM per liter. In this way, the governments of the FBiH and RS seek to oblige oil companies in BiH to adjust to the prices of oil on the world market.  

Minister Vujanović said at today's press conference of FBiH institutions that oil prices could be adjusted electronically and that it should be done by 11.59 pm tonight.

“All petroleum product traders can adjust prices according to the valid decision so as not to enter into violations. They must do so by 11:59 pm. Competent inspections are tasked with monitoring the decisions on the reduction of oil prices as of the next day. There is enough time to adjust the prices, because this is done online in a minute,” said Vujanović.