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Romania’s Petrom To Cut Diesel Oil Pump Prices By RON0.05/Liter

Romania’s largest vertically integrated oil company Petrom (SNP.RO) will cut Monday its diesel oil pump prices by 0.05 lei (EUR1=RON3.5224) per liter, and will keep unchanged its gas prices, the company said in a statement.
Romania’s Petrom To Cut Diesel Oil Pump Prices By RON0.05/Liter
25 aug. 2008, 15:19, English

One liter of Top Euro Diesel 4 will cost RON4.09, while one liter of OMV Sprint Diesel will cost RON4.48 per liter.

Petrom’s Euro Diesel 4 will cost RON4.14, and OMV Premium Diesel will cost RON4.64 per liter, the company said.

Thus, ECO Premium 95 prices will remain RON3.93 per liter, while unleaded Premium and unleaded Top Premium RON3.9, and RON4.23 per liter, respectively.

Also, one liter of OMV Carrera 95 and of OMV Carrera 100 will stay at RON4 and RON4.63, respectively.

Petrom cut a week ago its gasoline and diesel oil pump prices by RON0.04 per liter.

Subject to Petrom’s price strategy, the fuel prices could be up or down 5% in its gas stations, the presented values being for reference only.

Petrom’s price policy takes into account international oil prices but also the local market evolution. The company operates some 450 gas stations in Romania.

Petrom is the largest corporation in Romania and the largest gas and oil producer in Southeastern Europe. In December 2004, Petrom was privatized and became a part of OMV AG (OMV.VI), which is the majority shareholder.

International oil prices, which affect the fuel price, rose by 50% since the beginning of the year, and doubled compared with the corresponding period a year earlier, hitting a historic record of over $147 per barrel on July 11. On Tuesday, the price of the oil barrel exceeded $117.