Fuels increase in price again

Fuel sellers posted against higher fuel prices on February 24. The rises of 0.50 to 0.62 lei per liter come only a week after the last increase in the prices of gasoline, diesel fuel and liquefied petroleum gas, IPN reports.

Now, gasoline of “95” type is sold for an average price of 18.30 lei a liter, as opposed to 17,70 lei until now, diesel fuel for 15.60 lei a liter, as against 14.90-15.00 lei, while the liquefied petroleum gas for almost 11 lei a liter, up from 10.35 lei.

Fuel prices started to be raised in the middle of last December. Then, the prices rose by 0.60 lei per liter on average. In the middle of January, the fuel prices were increased by 1 leu per liter on average. In February, this is the third increase in prices already.

Earlier this month, the Competition Council said 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, fuel sellers have set the retail prices of the main fuels and liquefied petroleum gas themselves, within an annual markup of 10%.

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