Croatia ends fuel price controls after three years of regulation

Fuel price controls lifted in Croatia

The Croatian Government will no longer extend the regulation that limited retail fuel prices, the Ministry of the Economy announced in a public statement today.

“The Government of the Republic of Croatia has decided not to continue issuing the Regulation on the Determination of the Highest Retail Prices of Petroleum Products. This decision follows a thorough analysis and close monitoring of global market trends,” the statement starts off.

Over the past three years, the government had been setting maximum retail prices for petroleum products.

“This policy was introduced at a time of extreme volatility in global energy markets, with the main objective being to protect citizens’ living standards and ensure economic stability.

Throughout that period, the pricing measures were adjusted in line with shifts in the global oil market. Recent analysis indicates that both global and regional oil markets have stabilised, with more predictable pricing and secure supply chains now in place.”

Nevertheless, the government – in cooperation with the Ministry of the Economy – will continue to monitor wholesale oil prices and track developments at fuel retail outlets across the country.

“We will not allow unjustified or excessive price hikes that could significantly affect the living standards of our citizens or the stability of Croatian businesses. The Government of the Republic of Croatia remains ready to intervene again if necessary,” said Economy Minister Ante Šušnjar.

This week’s expected drop in fuel prices – previously scheduled to take effect on Tuesday – will no longer be implemented due to the government’s decision.

Planned but now cancelled price reductions were as follows:

• Eurosuper 95: €1.41 (-€0.04)
• Eurodiesel: €1.36 (-€0.02)
• Blue Diesel: €0.76 (-€0.01)

Energy company INA also welcomed the government’s move, seeing it as a step toward a more sustainable, market-oriented business environment. The say it will enhance market flexibility and allow for further improvements in services and investment.