ANRE about the Unprecedented Price Increase: It Is Due to the Regional Situation

Home / Economy / ANRE about the Unprecedented Price Increase: It Is Due to the Regional Situation
On June 8, the National Energy Regulatory Agency (ANRE) published a new maximum price for gasoline and diesel fuel, which will take effect on June 9. According to ANRE, the maximum price of 95th gasoline will be 32 lei 93 bani (34 bani more) per liter, and diesel fuel – 29 lei 87 bani (57 bani more). The ANRE explained that the unprecedented increase in oil prices is the cumulative result of two main factors:
  1. The restart of world economies after the pandemic and, consequently, the imbalance between supply and demand.
  2. The crisis caused by the war in Ukraine, which disrupted traditional supply chains and partially displaced Russian oil products from Western markets.
The European market of petroleum products was most affected by these two factors, especially when 30% of crude oil consumption and 40% of oil consumption are imported from Russia. Moldova is inferior in fuel prices only to countries that have their own resources (such as the Russian Federation together with Belarus) or to countries that have intervened in pricing policy by freezing/restricting and reducing the tax burden. Thus, ANRE reminds that Moldova maintains a relatively lower price level thanks to the price limitation mechanism and regulation of specific trade markups. In the context of the difficult regional situation, which generates a continuous increase of Platts quotes for petroleum products, the following maximum retail prices for standard petroleum products of standard type are set for tomorrow, June 09, 2022: COR 95 gasoline - 32.93 lei/litre; diesel fuel - 29,87 lei/liter. At the same time, the Agency daily monitors the stocks of petroleum products in the warehouses of importing companies and states that presently they are sufficient to meet the current needs of the national economy and citizens. There are cases when some petrol stations are out of stock, but it is not a systematic phenomenon and is more to do with the complicated logistical situation of the recent days when crossing the border of the Republic of Moldova. The state authorities make continuous efforts to streamline the traffic at the customs checkpoints, as well as to give priority to the goods destined for Moldova, which pass through the Giurgiulesti International Port. ANRE believes that the actions undertaken by the state authorities will lead to the improvement. Point