Romania’s Competition Council will set up a system to monitor fuel prices, similar to the food price monitor launched in November 2016, according to a memorandum the Government approved yesterday.

The fuel pricing monitoring platform will lead to market transparency for consumers and could increase competition on the fuel retail market.

The Government plans to amend the competition laws in order to be able to expand the price monitor to the fuel sector. The law will allow the Competition Council to ask for information from companies active in the market. The competition authority will thus be able to actively monitor prices in this sector, according to the Government.

In order to launch the platform, the Competition Council needs to create a database that lists all companies selling fuels, the geographical position of the gas stations they own, the types of fuel they sell and the prices for each type of fuel.

The price of fuel is a sensitive issue in Romania, which often comes up on the local politicians’ agenda. Gasoline and diesel prices have increased significantly in recent months after the Government decided to reintroduce an extra excise on fuel that had been removed at the beginning of this year.

editor@romania-insider.com