Last update: Saturday, May 11, 2019

Retail price of oil in Albania and in the world in the course of 1998-2014

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Open Data Albania has updated data on the retail price of oil in our country and in the world for 2014. In the period from 1998 to 2014, the price of oil increased by only 0.1 dollar per liter every two years all over the world.

Oil in our country was sold for USD 0.43 per liter in 1998, ie about four times less than in 2014 where the price of oil  was US dollar 1.71 per liter.



Source: Central Bank
Comments ad Analysis: ODA


In 2014, European and Central Asia Countries Group, part of which our country is, oil was traded for an average price of USD 1.6 per liter, being so a geographic group that kept the highest price of this hydrocarbon. Meantime, our country has reflected a price even higher than the average area concerning retail sales in 2014. So the retail oil price in Albania amounts to USD 1.71 per liter.

Geographical group with the lowest price of oil is that of the Middle East and North Africa where the oil price in 2014 was 0.66 USD per liter. The price almost 2.5 times lower results from oil reserves located in these areas, making these countries hydrocarbon producers.

Trend of oil price growth according to 2 -years 1998-2014


Source: World Bank
Comments and analyses: ODA

2014 situation in Albania and in some countries of the region concerning the oil price is according to the graph:

Oil price in Albania and other European countries in 2014


Source: World Bank
Comments and analyses: ODA

The price of oil in Albania and the countries of the region in 2014


Source: World Bank
Comments and analyses: ODA


Trend of oil price growth in Albania and other European countries according to 2 -years  1998-2014
Value in USD/liter



Source: World Bank
Comments and analyses: ODA

In the past two years the price of oil in Albania decreased by 0.08 US dollar per liter, while in other countries, except for Romania and Slovenia, the change was more drastic. This slight decrease is due to the growth of taxes which encumbered the retail marketing of hydrocarbons.

If the price has decreased in the appreciation according to US dollar, it has increased in the appreciation by local currencies over these two years. Turning to our national currency analysis we see that in 2014 oil was traded with ALL 3.6 / liter more than in 2012.

Albania ranks in the list of countries with the highest price of retail oil in Europe, standing on the list very close to European countries with high living standards.



Excel datasets :
    XML, N3 datasets :
      Contributer: Griselda Rruci
      Translated by: ODA
      Edited by: ODA