The price of fuel rises again

• The increase has no connection with the fine levied by the Competition Council, the representatives of the companies said

Yesterday, "OMV Petrom" has raised the price of fuel by 3%, or 9 bani per liter. The officials of the company explained that the price hike comes on the back of the rising trend of the Platts quotations for oil products, and has no connection to the fines levied last week by the Competition Council: "Ever since early last year, the Platts quotations for oil products have been on the rise, a trend which became more obvious in the first part of January. Thus, between January 1st-January 11th, 2012, the Platts quotations for Diesel oil denominated in lei have increased 8%, and the Platts quotations for gas have increased over 7%. During the same period, < Petrom > only increased its prices 3%, meaning that the company only managed to cover part of the increase of the quotations in question".

According to the quoted sources, the pricing policy of "Petrom" relies on the international quotations of gas and Diesel oil, but prices are also influenced by the fiscal policy and by the competition on the domestic market.

The representatives of "OMV Petrom" mentioned that between November 5th, 2011 - January 1st, 2012, the company did not operate any price changes: "On January 1st, 2012, prices have risen exclusively because of the excises: the level of the diesel oil excise, as well as the value of the diesel oil and gas excise expressed in lei have increased (due to an Euro/RON exchange rate higher than the one used in 2011)".

In the MOL gas stations, the price of fuel has increased as well.

However, "Rompetrol" did not raise the price of gas and diesel oil, according to statements made by officials of the company, who said that the decision of "Rompetrol" on the matter will depend on make a decision on this subject: "Today (ed. note: yesterday) we did not change any of our price. However, tomorrow (ed. note: today), we can not guarantee anything. All the companies are working with the same ratios, but they have a different algorithm".

Also, "Lukoil" sources said that the company would also raise the price of fuel, due to the evolution of the international prices.

The five largest oil companies in Romania have been sanctioned by the Competition Council (CC), in the beginning of this week, with a total fine of 880 million lei, which amounts to 3% of their respective 2010 turnovers. More than half of that amount has been levied on "OMV Petrom". The reason behind the fine levied by the Competition Council is the fact that the oil companies withdrew from the market a certain type of gas, as shown by the results of the investigation conducted over the past few years by the Competition watchdog.