Romania May Impose Additional Tax For Unjustified Fuel Price Growth - PM

Romania’s Government may introduce specific counter measures on the market, as special purpose taxes, against the producers who increase fuel prices rapidly and unjustifiably, Prime Minister Emil Boc told the public TV station Monday evening.

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Boc said he asked the Competition Council to verify if there is any monopoly on the local fuel market, and the tax authority ANAF to analyze the profit of the oil companies activating in Romania.

In November, central bank governor Mugur Isarescu said the fuel prices on the local market have a different evolution compared with the main factors that should influence them. Therefore, the central bank does not understand the mechanisms leading to the fuel price increases announced by producers.

According to the oil firms, pump prices are influenced mainly by the evolution of the international crude oil price and the leu/US dollar exchange rate.

The main oil companies activating on the local market are OMV Petrom (SNP.RO), Rompetrol, LukOil, MOL and OMV.

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