Romanians pay more than the European average for duty-free fuels

Aurel Dragan 22/03/2019 | 09:28

The price of duty-free fuels in Romania continues to be higher than the European Union average, and in the case of gasoline, the price increase over the last four weeks was higher than that at the level of the EU block, according to the European Commission’s Oil Bulletin.

In Romania, gasoline without taxes currently costs EUR 0.536 per liter, while the EU average is EUR 0.518 per liter. For comparison, in mid-February, gasoline was EUR 0.501 per liter in Romania while the EU average was 0.497 euros per liter.

The price of gasoline in our country increased by EUR 0.035 per liter, while in the EU the price difference is EUR 0,021 per liter.

As far as diesel is concerned, the price in Romania currently stands at 0.620 euro per liter, compared to 0.605 euro per liter, as is the EU average. In mid-February, diesel cost 0.602 euros per liter in Romania, while the EU average was 0.585 euros per liter.

The Competition Council started an investigation into the fuel market a year ago after the tax-free price of petrol and diesel in Romania exceeded the European average. The Authority will complete the investigation by the middle of this year and will come up with recommendations for increasing competition on the fuel market, according to Bogdan Chiritoiu, the president of the institution.

In the last months of last year, Romanian drivers paid less than the European average at the pump, but since the beginning of February, prices in Romania have once again exceeded the average level and the gap is increasing more and more.

With all taxes included (excise and VAT), prices in our country are below the European average. Thus, gasoline costs 1,148 euros per liter, compared to the EU average of 1,379 euros per liter, and diesel has a price of 1,212 euros, compared to the average of 1,350 euros per liter.

All of this is happening in the context of the fact that oil prices are also growing at a global level compared to the end of last year. The WTI range, traded in New York, climbed Thursday to nearly USD 60 a barrel, from USD 50 in November 2018 to USD 45 in December. Also, the Brent oil, on the European market, is quoted at USD 69 a barrel after it cost USD 60 in November and about USD 50 in December.

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