Prices of oil products go up

The prices of oil products have grown at the beginning of the year. The rise stems from the increase in the profit margin on oil products and the higher excise duties that started to be applied on January 1, 2023, IPN reports, quoting the National Agency for Energy Regulation.

These two factors, cumulated with the tendencies on international exchanges, for January 4 generated a rise of 0.70 lei in the price of gasoline and of 0.46 lei in the price of diesel fuel. Gasoline will cost 23.32 lei a liter, while diesel fuel – 23.64 lei a liter.

In a press release, the Agency explains that the specific profit margin put when retailing standard oil products grew by 10% or 0.29 lei a liter. The rise was necessary for keeping an appropriate balance between the interests of consumers and the reliability of the oil products market, especially given the war in Ukraine.

“Since January 1, 2023, the excise duty for a tone of imported gasoline grew by 637 lei, while for a tonne of diesel oil by 268 lei. Consequently, the final pump price will be gradually influenced during two weeks as 0.48 lei will be added to a litter of gasoline COR 95 and 0.22 lei will be added to a liter of diesel fuel,” noted the Agency.

It underlined that the two factors will have a greater impact only on the first calculation day of the new year. Later, based on the current methodology, the prices of the main oil products of standard type will be influenced exclusively by the quotations on international exchanges and the exchange rates of the national currency against the U.S. dollar.

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