Diesel in Serbia Hits Record High

Diesel in Serbia has reached a historic high, exceeding the record set during the energy crisis that followed Russia’s invasion of Ukraine. From September 4 to 11, the maximum price for a liter of eurodiesel is 234 dinars. Premium BMB 95 gasoline is capped at 205 dinars.

The diesel price is 12 dinars higher than the previous record of 222 dinars, set in November 2022, an increase of about 5.4%. Gasoline, by contrast, stands exactly at its July 2022 record of 205 dinars per liter.

The latest increase comes amid major disruptions in global oil markets linked to the war in the Middle East and the blockade of the Strait of Hormuz, a key route for global oil supplies.

Fuel prices in Serbia also reflect domestic policy. Professor Goran Radosavljević told N1 that Serbia has some of Europe’s highest fuel excise duties and a 20% value-added tax. He said prices are not set solely by a free market and that the state also influences them. Businessman Nebojša Atanacković said fuel provides reliable revenue and that the government has chosen it as a dependable source of budget income.

Other factors include international petroleum prices, the dollar exchange rate, transport and storage costs, wholesale and retail margins, mandatory oil reserve fees and energy-efficiency charges. NIS’s dominant position in the wholesale market also shapes the domestic pricing structure.