CORPORATE BRIEFS

Slovnaft hikes fuel prices, blames expensive crude oil

Slovakia's largest oil refinery, Slovnaft Bratislava, increased the price of fuel at its retail network of petrol stations for the third time this year during the middle of July. The firm said it was responding to a rise in the prices of Brent crude oil on world markets. Brent crude was traded at $15.50 in June, but increased through late July to almost $20 per barrel. In January, Brent crude sat at $10 per barrel.

The price of gasoline and diesel fuel at Slovnaft Benzinol gas stations rose 30 hellers per liter on average. Prices of fuel also increased at petrol stations operated by multinational companies (Esso, Shell, OMV, Aral). These companies also attributed the increase to the rising prices of crude oil on the global market.

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