Serbia Freezes the Price of Gas

The price of gas for consumers in Serbia will be frozen until May 2024 at the level that will apply from November 1 this year, the Belgrade newspaper "Danas" reports today.

In case of sudden changes in the market, the government will cover the difference for manufacturers and importers from the national budget.

This is provided for in the ordinance on a temporary measure to limit the price of gas and compensate for the difference in the price of natural gas purchased from imports or produced in Serbia, in case of sudden changes in the natural gas market.

The regulation applies exclusively to the quantities of natural gas intended for consumption on the territory of Serbia, the publication states.

In line with the agreement Serbia reached with the International Monetary Fund to receive a loan, Belgrade has taken a step-by-step increase in retail gas prices, with the latest going into effect on November 1 at the rate of 10 percent. This means that from this date forward, gas will cost 5.02 dinars per kilowatt hour with taxes and fees, Serbian media reported earlier this week.

Meanwhile, Bulgaria imposed a transit tax on Russian gas, which made it more expensive by 20 percent.

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