Ohrid, 13 June 2025 (MIA) – The conflict between Israel and Iran will affect oil prices in Macedonia, said the President of the Energy Regulatory Commission Marko Bislimoski, but he does not expect an impact on the prices of other products.

After the Israeli strikes on Iran last night, he noted that crude oil prices on global markets rose by around $10 early Friday, with the actual rise being $6 to $7.

There will undoubtedly be effects though it remains to be seen how they will develop in the coming days. For next week, I don’t anticipate a significant impact when we make our pricing decision, but sustained high prices of oil derivatives could influence future adjustments.

“There will definitely be an impact on the price that consumers in Macedonia will pay,” Bislimoski said ahead of this address at the panel session “Energy Efficiency and Integration of Renewable Energy Sources in the Utility Sector,” part of the international conference “The Future of the Utility Sector” held in Ohrid.

He expressed hope that prices would stabilize after the peak, citing the example of the war in Ukraine, when diesel prices reached $110 per barrel.

“We’re hoping this is just a spike and that prices will calm down again, like they did after the war in Ukraine started. Back then, prices jumped, but later settled between $65 and $68 a barrel. Today, for the first time, it hit $78. Let’s hope that doesn’t last,” Bislimoski said.

He reminded that when the war in Ukraine began and oil prices went up, the prices of many goods also increased, but even after fuel prices dropped, those product prices stayed high.

“When we talk about oil derivative prices, diesel at $110 was the reason for a large number of price hikes. Today, diesel costs Mden 66–67, but the prices of products that increased back then have not gone back down. I don’t believe this will have a dramatic effect on other products used in Macedonia,” he added.

Photo: MIA