According to the Central Bank estimates, the national oil bill could increase by 24.8% in 2017.
A recent agreement among oil producers and the expectation of higher prices of raw materials make authorities from importing countries consider the potential impact they will face during this year.
Therefore, the bill could rise to $ 1,340 million.
The possible increase in fuel prices was already considered as one of the risks the country will face next year, with direct effects on inflation.
The growth in oil production due to the advance of new technologies, along with the discovery of new oil fields, pushed the price of oil down in recent years.
According to the Central Bank, the increase in fuel prices will have an effect on inflation, however, it would continue within the target range, which is about 3%.
Expenditure expected for 2017 and 2018 is lower than the one in 2014.