Price of standard diesel in Romania reaches all-time high
Standard diesel has reached a new all-time high in Romania and has exceeded, in some filling stations, the threshold of RON 10.5 (roughly EUR 2) per liter on Friday, July 31, amid geopolitical tensions and problems in crude oil supply. A day earlier, on Thursday, July 30, a liter of diesel cost RON 10.42.
In the other major distribution networks as well, prices have reached unprecedented levels. At one of them, a liter of standard diesel is sold for RON 10.48, while in the stations of another company it costs RON 10.47, according to Digi24.
In this context, the authorities are expected to implement the law that reintroduces the state of crisis on the fuel market, a measure also used earlier this year to limit the effects of price increases. The normative act provides for the introduction of a dynamic excise duty, a mechanism through which the level of the excise duty could be gradually reduced, depending on the evolution of prices.
The reduction would be applied in stages of 5% each, up to a maximum of 20%, which could translate into a decrease of approximately RON 0.14 per liter of diesel for each reduction threshold.
"At the current pump price of diesel, we are talking about a reduction of RON 0.34 per liter of diesel. If we see an increase in international diesel and oil prices, the reduction could go to as much as RON 0.68, depending on the final price," former energy minister Bogdan Ivan said earlier this week.
Just like diesel, gasoline also saw price hikes, reaching RON 9.44 and nearing the RON 10 threshold.
Compared with the beginning of the week, gasoline has become more expensive by approximately RON 0.30-38 per liter, while diesel has increased by RON 0.50-61 per liter, one of the sharpest rises in recent months. The increase in prices is fueled by the resumption of tensions in the Middle East, but also by disruptions in the transport of crude oil from Kazakhstan to Europe.
Romania depends to a significant extent on this flow, with more than half of the oil refined in the country coming from Kazakhstan. Last week, the latter decided to suspend oil deliveries after suspected Ukrainian drone attacks in the area.
However, on Tuesday, July 28, Kazakhstan resumed crude oil exports through the Caspian Pipeline Consortium (CPC), easing pressures on the Romanian energy market.
(Photo source: Inquam Photos/George Calin)
