Fuel consumption in Romania increased in March and, to a lesser extent, in April despite a sharp rise in petrol and diesel prices, according to analysts at the Association for Intelligent Energy (AEI), cited by Mediafax, commenting on data from the National Institute of Statistics (INS). AEI analyst Dumitru Chisăliță said the figures indicate relatively low price elasticity of demand for road fuels in Romania.

While fuel demand has historically shown limited sensitivity to price changes, the stronger consumption recorded in March may also reflect a more immediate factor: motorists and businesses building up inventories ahead of anticipated price increases and concerns over supply conditions.

Retail trade data support this interpretation. After seasonal and calendar adjustments, fuel sales declined by 3.7% month-on-month in April and eased further in May. In contrast, retail fuel sales rose by 4.8% m/m in March. On an annual basis, retail fuel sales increased by 11.2% y/y in March before falling by 0.7% y/y in April and 5.5% y/y in May.

"The first four months of 2026 send a seemingly paradoxical message for the Romanian fuel market: prices have increased significantly, but consumption has not only failed to decline, it has even recorded stronger growth in some months than a year earlier. This behaviour confirms once again that gasoline and diesel are not simple commercial products, but essential resources for the functioning of the economy and the mobility of the population," Chisăliță said.

Compared with the same period in 2025, fuel prices rose substantially. In April, despite a modest correction, petrol prices remained almost 20% higher than a year earlier, while diesel prices were nearly 30% higher.

According to data cited by Mediafax, which include the entire market (as opposed to only the retail market), gasoline consumption increased by 17% y/y and diesel consumption by 21% y/y in March 2026. Compared with February, volumes sold rose by 20.9% for diesel, 17.8% for gasoline, and 9.6% for LPG.

Although these figures are consistent with relatively inelastic demand, the timing of the March surge suggests precautionary stock-building ahead of further price increases may have been an equally important driver of higher fuel purchases.

iulian@romania-insider.com

(Photo source: Inquam Photos/George Calin)