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Fuel prices raised again

A number of filling stations have posted higher fuel prices. Gasoline and diesel fuel prices were raised by 0.40-0.55 lei a liter, while the price of liquefied petroleum gas is now by about 0.2 lei higher, IPN reports.

Currently, gasoline “95” costs 17.65 lei a liter on average, up from 17.15 lei earlier. A liter of diesel fuel is sold for about 10.30 lei, as opposed to 10.10 lei until now.

Fuel prices started to grow in the middle of last December and have risen by about 1.60 lei since then.

At the beginning of February, the Parliament’s commission on economy budget and finance held hearings on the oil products market. In these, the Competition Council noted that six oil companies that together manage 66% of the gas stations in the country adopt a similar behavior with regard to the modification of prices, which are similar, during 48-72 hours. The analysis of board prices points to a disagreement in the market’s reaction to the international quotations, namely the immediate reaction to the rise in quotations and the delayed reaction to declines.

Since March 2019, in accordance with the amendments made to the law on the oil products market, oil seller have set by themselves the retail prices of the main fuels within a markup of 10%.

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