Suez Canal blockage poses risk to oil supply in Albania

A potential blockage of the Suez Canal could have significant consequences for Albania’s oil supply, increasing both costs and transport times for “black gold,” which has recently seen a sharp rise in market prices.

The price of oil in the country has reached up to 200 lek per liter, up from around 175 lek at the end of February, due to tensions in the Middle East and their reflection on international markets.

Increase in imports and dependence on foreign sources.

According to Customs data, in 2025 Albania imported around 740,000 tons of oil, a continuing increase linked to the expansion of tourism and the growing number of vehicles on the road.

The main source of supply remains Saudi Arabia, from which about 257,000 tons were imported, or 35% of the total. Companies Kastrati Energy Trade and Gega Oil, the two largest importers in the country, rely primarily on this source.

A significant portion of imports also comes from India, which in 2025 accounted for around 16% of the total. Although India is not one of the main crude oil producers, it has become an important hub for processing and exporting refined products.

Currently, the canal remains operational, but traffic has been significantly reduced, as many shipping companies are avoiding the route due to risks in the Red Sea.

Experts warn that any disruption in this maritime corridor could directly affect fuel prices in Albania, driving them even higher and making oil an increasingly expensive product for consumers.

Furthermore, the country’s high dependence on imports makes the domestic market sensitive to geopolitical developments and global supply chains.

“KORÇA BOOM”