The government on Monday decided to remove the restriction on the fuel prices which it imposed on October 14 when it capped the price of petrol at 11.10 kuna per litre and the price of diesel at 11 kuna per litre.

The decree from October 14, based on the Petroleum Products Acts, was adopted in a bid to help households to alleviate price hikes.

The decision to annul the restrictions of fuel prices takes effect on Tuesday.

Commenting on the purpose of the price restrictions as a measure to help citizens and businesses to cushion the price blow to their standards, Prime Minister Andrej Plenkovic said at the government’s meeting on Monday that the introduction of the restrictions a month and a half ago was “an excellent move”.

“Some countries have followed our example. Having in mind the principles of the free market and against the background of the changed circumstances, we can annul that decree now,” Plenkovic said.

Economy Minister Tomislav Coric said the decree on capping the prices had fulfilled its purpose, adding that in the last two months the domestic market had been stabilised.

Underscoring that the fuel prices are uncapped as of Tuesday, Coric expressed hope that there would be no price turbulence on the global markets any longer. However, the government will respond to such changes if necessary, he added.

Last week, crude oil prices on the London market fell by nearly 4 percent, and by 2.8 percent on the U.S. market. The prices have been decreasing for six weeks in a row after they hit a record high in late October.