Petrom Sets Tone For New Fuel Price Hikes With RON0.09 Raise

04.08.2011 By Andrei Circhelan

Romania’s largest oil company OMV Petrom (SNP.RO) Friday raised its gasoline and diesel oil pump prices by 0.09 lei (EUR1=RON4.2065) per liter, which could trigger similar increases from other local fuel sellers.

Romania's largest oil company OMV Petrom (SNP.RO) Friday raised its gasoline and diesel oil pump prices by 0.09 lei (EUR1=RON4.2065) per liter, which could trigger similar increases from other local fuel sellers.

Thus, Petrom's unleaded Premium 95 gasoline now costs 5.21 lei (EUR1=RON4.1089) per liter, while unleaded Top Premium 99+ gasoline costs RON5.59 per liter.

OMV Carrera 95 costs RON5.35 per liter, while OMV Carrera 100 became the first local gasoline sortiment to see its price above RON6 per liter, namely at RON6.01 per liter.

Top Euro Diesel 5 and OMV Sprint Diesel diesel fuels cost RON5.38 per liter and RON5.4 per liter, while Euro Diesel 5 and OMV Alpin Diesel cost RON5.24 per liter and RON5.72 per liter.

Romania's top fuel distributors are Petrom, Rompetrol, Lukoil Romania and MOL.

Oil companies increased fuel prices several times since the beginning of the year. Romania's statistics office INS said fuel prices rose by more than 15% in 2010, after a 13% increase in 2009.

Romania's fuel distribution market is under Competition Council scrutiny since 2005, but an investigation conclusion is pending.

Prime Minister Emil Boc recently said the government cannot intervene in the fuel market, and companies have the right to set prices on their own.