Serbia to liberalize oil market

Serbia will liberalize its oil derivatives market on January 1, ending the monopoly of the Oil Industry of Serbia (NIS). Analysts believe that this should "improve the quality of fuel and bring down the prices". Serbia to liberalize oil market Meanwhile, the Ministry of Trade and Services announced it had proposed a complete liberalization for the import of high-quality oil derivatives and the prices for basic gasoline products. Minister of Trade Slobodan Milosavljevic stated on Tuesday that starting January 1, a new law on trade should come into force, which means termination of validity for the Law on conditions for conducting trade in goods, which has kept the Regulation of petroleum product prices in force so far. “I hope that this way of regulating the oil and derivatives market will bring benefits to the citizens of Serbia, helping the consumers get better quality at a more acceptable cost, while all participants in the market would get equal terms and have a better market competition,” Milosavljevic said.

Serbia to liberalize oil market

Meanwhile, the Ministry of Trade and Services announced it had proposed a complete liberalization for the import of high-quality oil derivatives and the prices for basic gasoline products.

Minister of Trade Slobodan Milosavljević stated on Tuesday that starting January 1, a new law on trade should come into force, which means termination of validity for the Law on conditions for conducting trade in goods, which has kept the Regulation of petroleum product prices in force so far.

“I hope that this way of regulating the oil and derivatives market will bring benefits to the citizens of Serbia, helping the consumers get better quality at a more acceptable cost, while all participants in the market would get equal terms and have a better market competition,” Milosavljević said.