The application of VAT on the fuel surcharge has resulted in an increase in the retail prices of both gasoline and diesel. This measure is intended to mitigate the rise in fuel costs stemming from fluctuations in global crude oil and oil derivative markets. Minister of Finance, Gordana Dimitrievska-Kochska, stated that the VAT mechanism will remain an active tool in addressing the economic fallout from the current crisis within the Black Sea Basin.
According to statements shared on her official Facebook profile, the Minister confirmed that she is closely monitoring the situation to ensure timely responses aimed at safeguarding the national economy and maintaining citizens’ standards of living. Dimitrievska-Kochska noted that the VAT structure signals a significant upward trend in prices during the period under review. The imposition of this tax is a direct response to the volatility observed in the international oil markets.
Authorities are utilizing the VAT adjustment to manage the inflationary pressures exerted by rising global oil prices, thereby adjusting the final consumer cost of essential fuel products. This ongoing monitoring and proactive adjustment aim to stabilize the market while protecting the broader economic stability of the region.
Topics: #fuel #vat #oil
