Will prices of alcohol, cigarettes, coffee and fuel go up as of 1st May?

The Serbian government has decided to harmonize the excise tax with the 2023 annual consumer price index, which practically means that this levy will go up from May 1 and it applies to crude oil derivatives, tobacco products, alcoholic beverages, coffee and liquid for e-cigarettes.

 Economic experts say that this harmonization of excise fees with consumer price index will result in higher prices of the said products at least by the amount of the increased specific excise duty. This can range from a minimum of 2 dinars (in the case of e-cigarette liquid) to up to 10 dinars (for roasted coffee).

The new levy on fuel

However, consumers are particularly concerned about the increase in this levy on fuel, particularly petrol which will go up from the previous 66.42 dinars per litre to 71.47, while for unleaded gasoline, the levy will jump from 62.47 to 67.22 dinars as of 1st May.

The Association of Oil Companies of Serbia states that from May 1, producers and importers of oil derivatives will be obliged to calculate and pay new, increased excise taxes.

Due to this state levy, smokers will also have to set aside more money for their habit, because the specific excise tax will increase significantly. Namely, it will be 97.70 dinars per pack until June 30, which is a significant jump because the current one is 92.61 dinars.

As of January 1, 2025, the excise on tobacco products will be as much as 101.12 dinars. All this suggests that a new increase in the price of cigarettes by 10 dinars is on the horizon. The price of e-cigarette liquid will also go up, that is to 0.72 dinars per millimetre.

(Biznis i Finansije, 14.04.2024)



This post is also available in: Italiano

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