The price of gasoline has passed 8 lei/liter in Petrom stations, the first price increase since the start of the war in Iran last weekend.
MV which owns Petrom has increased the prices of both gasoline and diesel by about 15 bani per liter.
The surge is the first increase since the strikes on Iran began on Feb. 28.
Russia’s Lukoil has also increased its prices, of 15 bani/l for diesel and 14 bani/l for gasoline. A liter of diesel now costs 8.41-8.42 lei/l while standard gasoline is 8.06-8.11 .
Market leader Petrom’s decision to hike prices are usually followed shortly afterwards by similar adjustments by the other large fuel distributors, such as MOL, Rompetrol or Lukoil.
Price rises at the pump come in the context of geopolitical tensions in the Middle East, which have led to the rise of oil prices on international markets and amplified fears of possible disruptions in global crude oil supplies.
In Romania, fuel prices are mainly influenced by the evolution of international quotations of oil and refined petroleum products, but also by the level of taxes, excise duties and VAT representing a significant part of the final price paid at the pump.
Analysts warn that, if tensions in the region continue to push up the price of oil, fuel could continue to rise in the coming period.
Romania urges ‘temporary ceasefire’ to evacuate civilians from Middle East
