Romanians need to pay more for fuel, electricity and gas

Romanians need to pay more for fuel, electricity and gas starting October 1. The electricity price increased by RON 0.03 per kWh this Sunday, according to Romania’s authority for energy regulation (ANRE). Gas price also went up by over 5% from October 1. OMV Petrom, the leader on Romania’s fuel distribution market, rose by RON 0.05 per liter the gasoline and diesel price on Saturday night. It was the second increase in fuel price, after the one from September 15. Romania’s Government approved at the end of August the fuel excise increase in two stages, on September 15 and October 1. Moreover, the split VAT system became optional for companies from October 1. The system could become mandatory next year although it’s not yet clear how the system would function. The Parliament will have the final say on this. Some economists have warned that the increase in the fuel and energy price could result in a significant rise in prices for all products. This could put pressure on inflation in the last quarter of this year. editor@romania-insider.com