Romanian Oil Co Petrom Fuel Prices Are Defiant -Econ Min

"I think this (e.n. fuel prices) is defiant, which is an understatement," Vosganian said.

This is the third time in the last two weeks when Vosganian criticized Petrom for its gas and diesel oil prices.

Vosganian added he has talks with Petrom representatives on the accuracy of fuel prices but the company has not given any official statement on that issue.

The minister announced recently that the representatives of the Economy and Finance Ministry would talk with the producers and fuel traders regarding price rises.

Vosganian also wonders about how OMV was allowed to manage all the crude-oil resources in Romania, based on Petrom’s sale contract.

Since the beginning of the year, Petrom, owned by Austria’s OMV, has hiked fuel prices nine times. Fuel prices have grown by 10-12% since the beginning of the year.