Diesel prices rise / Price reaches 10.64 lei per liter at Petrom

Diesel prices have risen again, exceeding 10.6 lei per liter at Romania’s main fuel station networks. Following the increases applied today, standard diesel costs 10.64 lei per liter at Petrom stations and 10.70 lei at premium OMV stations. Rompetrol raised its prices at midnight, to 10.66 lei per liter.

The price increases come amid record growth in international Platts diesel quotations. On Wednesday, they reached $1,665 per tonne, $90 above the level recorded the previous night and above the previous record of $1,617 per tonne, set in April.

The trend is being influenced by geopolitical tensions and the escalation of conflicts in the Middle East and Ukraine, key regions for Europe’s hydrocarbon supplies. Competition for crude oil has intensified following the suspension of Saudi shipments through the East-West pipeline, which bypasses the Strait of Hormuz.

The Ministry of Finance has extended the 25% reduction in the diesel excise duty by two weeks, but legislation does not allow for a larger reduction. Without the 85-bani-per-liter reduction, diesel would exceed 11 lei at all stations across the country. Gasoline prices remained unchanged at Petrom and OMV.