Regarding the decision of the Energy Regulatory Commission of the Republic of North Macedonia on determining the maximum retail prices of petroleum products and transport fuels, which enters into force on 28 July 2026, the Compulsory Oil Reserves Agency – MACORA informs the public that the country has sufficient quantities of mandatory oil reserves and that the supply of petroleum products remains stable.
The increase in prices is a result of the rise in benchmark prices of crude oil and petroleum products on global markets, as well as exchange rate fluctuations, based on which the Energy Regulatory Commission adopted its latest decision on determining the maximum retail prices of petroleum products and transport fuels.
The Agency emphasizes that it does not participate in the determination of petroleum product prices and has no authority to influence their formation. Its primary legal function is to ensure and manage the country’s mandatory oil reserves in order to guarantee security of supply in the event of potential market disruptions.
At present, the Agency has sufficient quantities of all types of mandatory oil reserves, enabling a timely response in the event of serious disruptions in the supply of crude oil and petroleum products. In this way, the country is prepared to address the challenges arising from instability in global energy markets and to preserve energy security for citizens and the economy.
The Agency will continue to closely monitor developments in the domestic and international markets and, within its legal competencies, will continue to ensure the security and continuity of the mandatory oil reserves system.
Sincerely,
Compulsory Oil Reserves Agency – MACORA
Skopje, 28 July 2026