Rompetrol Ups Fuel Pump Prices By RON0.09/Liter

04.08.2011 By Andrei Circhelan

Romanian fuel distributor Rompetrol Downstream on Friday increased pump prices for diesel oil and gasoline by 0.09 lei (EUR1=RON4.1146) per liter, on the same day that OMV Petrom (SNP.RO) upped its fuel prices by the same amount.

Romanian consumer prices are likely to increase by 0.5% on the month in March, while the annual inflation is seen accelerating to 7.8%, according to a median forecast of the country's association of financial and banking analysts AAFBR.

Thus, Rompetrol's Efix 95 gasoline now costs RON5.35 per liter, while Alto 101 costs RON6.02 per liter. Diesel fuel Efix costs RON5.41 per liter, while Alto 55 diesel fuel costs RON5.72 per liter.

The Rompetrol group is owned by Kazakh oil and gas company KazMunayGas.

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.