The dynamics of oil in correlation with the price of petrol are aspects that any Romanian mildly interested in the internal economic market events should be interested in. Cheaper oil waives the 7 cent charge. The price of an oil barrel has decreased by 30%, which has lead to a clear decrease of the price of gasoline at petrol stations.
On April 1st 2014, the Romanian Government introduced a 7 cent per liter excise. Now, in November, the price of petrol has returned to the level reached at the end of March. Thus, according to the centralized data provided by Ziarul Financiar, a liter of petrol at the Petrom gas stations is sold at the price of 5.92 lei, while a liter of diesel is offered for approximately 6 lei. The prices are now almost identical to those applied at the end of March, just before the increase of the price through the introduction of the 7 cent excise (the equivalent of 40 bani).
At the respective time, the Government justified the introduction of the tax by the fact that supplementary funds were required for the construction of new roads, but as we elaborated in a previous article, this year is approaching its end with a very modest balance: just over 50 km of new highway. It is important to mention as well that by now not even one km has been inaugurated.
Joy to consumers, concern for the oilmen. The new decrease in the price of oil casts a shadow over the leading oil groups. At present, Petrom, Rompetrol, Lukoil and MOL are the main players in the industry. The Austrian group OMV, which presently controls Petrom, has already announced they will review their plan of investments and expenses for the following 2-3 years.
With the present lowered price of oil and petrol, a revival of the market and an increase in the demand of fuel is expected. Romania consumes around 6 million tons of fuel annually, costing almost 10 billion Euro. Fuel is distributed to the public in the over 2000 gas stations around the country.