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March 5, 2021

Romania, second in the EU in terms of petrol price hike, in times of recession

When demand is falling, as it is the case with most products in times of crisis, prices should go down as well. In Romania, however, petrol and diesel are contradicting this basic rule of the economy. Thus, at the end of 2010, petrol sells in Romania at prices 65 pc higher than at the beginning of 2009, and the local market experienced the second highest price hike in the EU during the last two years of recession, ‘Gandul’ newspaper reports. In fact, if motorists had to pay RON 172 for a full tank of petrol, now they can fill the same tank at the price of RON 284, even though the crisis severely eroded the purchasing power of the average Romanian. If, last year, a tank of diesel was worth RON 190, in 2010 it costs RON 276. Each time, oil companies came with irrelevant explanations. According to European statistics, between January 2009 and November 2010 only Greece saw a steeper increase of prices for petrol and diesel.

Petrom announced yesterday that it will increase the reference prices of various types of petrol by 0.08 RON/liter and diesel by 0.06 RON/liter, according to data posted on the company’s internet site. The new reference prices of various petrol types are as follows: 4.82 RON/l – unleaded Premium 95, 5.20 RON/l – unleaded Top Premium 99+, 4.96 RON/l – OMV Carrera 95, 5.62 RON/l – OMV Carrera 100. The new prices of diesel fuels are: 4.86 RON/l – Top Euro Diesel 5/Top Nordic Diesel, 4.88 RON/l – OMV Sprint Diesel, 4.66 RON/l – Euro Diesel 5, and 5.20 RON/l OMV Alpin Diesel.

Also, Rompetrol increased yesterday the reference prices of petrol by 0.08 RON/liter at own filling stations and diesel by 0.06 RON/liter.

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