According to the analysis published by the Competition Council, the difference between prices in Romania and the European average was higher than usual, especially in the case of prices excluding taxes. In the last days of the analyzed period, in the case of diesel, the difference from the European average gradually decreased, Romania returning to the situation encountered in the past, before the war, when domestic diesel prices were closer to the EU average than those for gasoline.
After the significant increases in March, generated by international tensions and supply problems, pump prices entered a correction trend, especially in June. Domestic prices without taxes generally followed the evolution of international Platts and Brent quotations, but the transmission was not automatic, instantaneous or proportional. According to the cited source, in the case of gasoline, the correlation with the evolution of international quotations was clearer, and the decrease in quotations in June was seen in domestic prices.
Prices with taxes in Romania were, in mid-June, below the EU average by 7. 2% for gasoline and by 3. 7% for diesel.
In the case of prices without taxes, the differences were even greater: 15. 1% below the EU average for gasoline and 8. 3% below the EU average for diesel.
In the case of diesel, the initial shock was stronger, and the subsequent adjustment was slower and more moderate, against a backdrop of higher volatility and greater dependence on international markets. The evolution is also explained by the gradual approach, in recent days, of the price of diesel in Romania to the European average. Romania is among the countries with the lowest fuel prices In terms of prices without taxes, Romania was, in June, in the group of states with the lowest levels of prices without taxes, and the gap with the European average was more pronounced than in usual periods.
The available data shows that, during the period in which the commercial mark-up was capped and the excise duty on diesel was temporarily reduced, Romania had fuel prices lower than the European Union average. In recent days, we have observed a gradual approach to the European average for diesel, which rather indicates a return to the previously known situation, before the war. We will continue to monitor the market, especially after the end of the temporary measures, said Bogdan Chirițoiu, President of the Competition Council.
Since July 1, the excise duty on diesel has increased In the context in which the period for which the crisis situation was declared was not extended, as of July 1, the excise duty on diesel returned to the previous level, which represents an increase of approximately 36 bani/liter, including VAT. The Competition Council will also provide, by the end of July, a report on the compliance with the capping obligations by operators on the fuel market. The competition authority will continue to monitor developments on the fuel market, including after the termination of the temporary measures, to analyze how changes in international quotations, costs and commercial conditions are reflected in prices charged at the pump.