Regulated fuel prices will rise by several cents on 30 January despite a lowering of excise duties, the third time in a row that prices will increase under the administrative pricing model in place in Slovenia.

Regular petrol will be almost 7 cents more expensive at EUR 1.355, while the price of diesel is going up by almost 5 cents to EUR 1.529.

The prices will apply the next 14 days at service stations that are not located along motorways. Those along the motorway network are allowed to set prices freely and are typically more expensive.

The announcement comes after the government reduced the excise fee on diesel by three cents per litre to 33 cents, the lowest level still permitted by EU regulations.

The price of heating oil will go up as well, by four cents to EUR 1.155. This is despite a lowering of the excise duty by roughly 1.3 cents per litre.

Fuel prices are set every two weeks according to a formula which factors in the price of oil derivatives on Mediterranean markets and the euro-dollar exchange rate.