An official of the Association of Serbian Oil Companies said on Wednesday that fuel consumption dropped 12 percent since March 1.

Association General Secretary Tomislav Micovic told a meeting on energy transition and COVID that the supplies of oil and derivatives is stable but that the pandemic has had a negative effect on sales.  

“Sales at gas stations have dropped by 12 percent since March 1. Fuel prices were low in that period, diesel prices dropped by up to 30 Dinars (1 Euro – 118 Dinars) a liter and by some 27 Dinars a liter of gasoline which caused a rise in consumption but sales have dropped cumulatively,” Micovic said, adding that fuel prices should not be expected to rise since the global situation is stable. He warned that oil producers don’t have the money for new investments and called the government to fill its mandatory oil reserves to secure supplies if the market suffers an upset.