Hellenic Petroleum-owned oil refiner OKTA has reached a deal with the Macedonian government to fix the ex-refinery price of the soon to be launched Diesel E-IV fuel, with the government covering costs of $0.022 per liter, reported Petrol Plaza.
OKTA has been seeking government coverage of $0.036 per liter prior to its signing of the price-fixing agreement with the Macedonian government. Additionally, the government has also agreed to cover $0.005 per liter of extra light oil EL-1, according to the news source.
Petrol Plaza noted that these prices have been set on a temporary basis until a new price regime that fixes the ex-refinery prices is established. The new prices will reportedly be set within three months time.
There has been some opposition from industry experts who believe that the government has overlooked OKTA’s monopolistic position in the market by allowing the production of sub-standard oil derivatives, according to Petrol Plaza.