Serbia freezes the price of gas until May 2024

The price of gas for consumers in Serbia will remain fixed until May 2024 at the same rate that was in effect from November 1 of the current year, as reported by the Belgrade newspaper “Danas”.

In the event of sudden market fluctuations, the government will offset any price differences for manufacturers and importers through the national budget. This provision is outlined in the Ordinance on a temporary measure designed to cap gas prices and provide compensation for variances in the cost of natural gas, whether it is imported or produced domestically in Serbia, especially in response to abrupt changes in the natural gas market.

This regulation specifically pertains to the quantities of natural gas designated for consumption within Serbia’s borders, as highlighted by BTA.

As part of an agreement with the International Monetary Fund to secure a loan, Serbia has been implementing gradual increases in retail gas prices. The most recent adjustment, a 10 percent increase, took effect on November 1. Consequently, as of that date, gas now costs 5.02 dinars per kilowatt hour, inclusive of taxes and fees, as reported by Serbian media earlier this week.

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