Free import and price formation of oil derivatives allowed

As of January 1st, free import and price formation of oil derivatives are allowed in Serbia.

Serbian Minister of Energy Petar Skundric said he expected the market liberalization to result in price decrease of fuels in January.

According to the information provided by the Minister of Energy, there are 226 licensed companies engaged in oil and oil derivatives trading and 413 licensed companies engaged in fuel retail trade in Serbia.

The Regulation on free import of fuel and the decision on free formation of prices of oil derivatives were adopted at the Government of Serbia's session on December 29, 2010.