Oil in our country was sold for USD 0.43 per liter in 1998, ie about four times less than in 2014 where the price of oil was US dollar 1.71 per liter.
Source: Central Bank
Comments ad Analysis: ODA
Geographical group with the lowest price of oil is that of the Middle East and North Africa where the oil price in 2014 was 0.66 USD per liter. The price almost 2.5 times lower results from oil reserves located in these areas, making these countries hydrocarbon producers.
Trend of oil price growth according to 2 -years 1998-2014
Source: World Bank
Comments and analyses: ODA
2014 situation in Albania and in some countries of the region concerning the oil price is according to the graph:
Oil price in Albania and other European countries in 2014
Source: World Bank
Comments and analyses: ODA
The price of oil in Albania and the countries of the region in 2014
Source: World Bank
Comments and analyses: ODA
Trend of oil price growth in Albania and other European countries according to 2 -years 1998-2014
Value in USD/liter
Source: World Bank
Comments and analyses: ODA
In the past two years the price of oil in Albania decreased by 0.08 US dollar per liter, while in other countries, except for Romania and Slovenia, the change was more drastic. This slight decrease is due to the growth of taxes which encumbered the retail marketing of hydrocarbons.
If the price has decreased in the appreciation according to US dollar, it has increased in the appreciation by local currencies over these two years. Turning to our national currency analysis we see that in 2014 oil was traded with ALL 3.6 / liter more than in 2012.
Albania ranks in the list of countries with the highest price of retail oil in Europe, standing on the list very close to European countries with high living standards.