Romania to end gasoline and diesel subsidy

Romania’s will end a gasoline and diesel subsidy scheme next year, the prime minister has said.

Premier Nicolae Ciuca said the scheme which was approved in June will be scrapped starting Jan. 1.

It will be reintroduced “if the prices …  exceed the public’s purchasing .. power,” he said at a government meeting on Wednesday.

“If the measure did not initially seem good, the end of the year shows us it was beneficial, as fuel prices have gone down,” to the level before the government’s decision, he said.

The government approved an emergency ordinance in June as fuel prices spriralled. Under the scheme, the government compensated 0.5 lei on every liter at the pump.

The government intended to keep the scheme in effect for three months, but it was extended until December after inflation jumped to almost 17% in November.

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