economy

March 5, 2026

Oil and gas prices will only go up! Savić on new crisis, price increases in Serbia and impact on loans

Economist Ljubodrag Savić stated today that the closure of the Strait of Hormuz has caused a very dangerous disruption of energy supply and emphasized that due to the conflict in the Middle East, oil and gas prices will not stop but can only go up.

Oil and gas prices will only go up! Savić on new crisis, price increases in Serbia and impact on loans

TL;DR

  • The closure of the Strait of Hormuz poses a dangerous threat to energy supply, with oil and gas prices expected to rise further.
  • Rising energy prices will lead to increased prices for other goods and services, impacting reference interest rates and affecting individuals with loans.
  • The ongoing conflict in the Middle East is expected to escalate, with potentially severe economic consequences for Serbia, despite it not facing direct war consequences.
  • Europe is facing a gas crisis due to a halt in LNG production and must reconsider its stance on trading with Russia.
  • Serbia should consider foregoing excise taxes on fuel derivatives to mitigate the impact of rising oil prices on its citizens.
  • The conflict is described as a "battle for life and death," particularly for Iran, with no quick resolution expected.

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