The Romanian government is set to declare a state of crisis on the crude oil and petroleum products market, as authorities move to curb rising fuel prices and limit their impact on the economy and population. The decision follows a high-level meeting convened by prime minister Ilie Bolojan.

According to the government, an emergency ordinance is expected to be adopted on Tuesday, March 24, introducing a package of measures initially valid for six months, with the possibility of extension in three-month intervals if the situation persists. The measures aim to stabilize the fuel market and protect consumers.

Among the key steps, the government plans to cap commercial margins for gasoline, diesel, and related raw materials across the entire supply chain. Exports and intra-EU deliveries of fuel will require prior approval from the Ministries of Economy and Energy. 

Authorities also intend to reduce the proportion of biofuels in gasoline in an effort to lower final prices.

At the same time, the Ministries of Finance, Economy, and Energy, together with the Competition Council, will continuously monitor the market and assess the need for additional interventions.

For more than a week, fuel prices have been climbing sharply in Romania amid the US-Israel war with Iran, with gasoline surpassing RON 9 per liter in Bucharest and diesel nearing the RON 10 threshold. Romania Energy Center director Eugenia Gusilov told Euronews Romania that gasoline could potentially reach RON 10 per liter by the end of March, which could slow business activity and disrupt supply chains.

irina.marica@romania-insider.com

(Photo source: Inquam Photos/George Calin)