Romania’s Diesel Oil Prices Seen Higher Than Gas In ’09

Romania’s diesel oil prices will be higher than gas ones in 2009, on higher excise enforced January 1st, exchange rate fluctuations and the introduction of Euro 5 norms, which could increase the fuel prices by 3.8% or 10%, the fuel suppliers said Monday.

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Diesel oil prices in Romania are higher than gas ones for the first time early this year, on 5.6% higher excise, from EUR307.59 per ton to EUR325 per ton, as well as on higher international oil prices.

Diesel oil excise will increase January 1st to EUR336 per ton, and is seen reaching EUR347 per ton by 2010.

Leaded gas excise will be EUR547 per ton in 2009, while the unleaded gas excise is seen increasing from EUR425.06 per ton to EUR436 per ton in 2009 and EUR452 per ton by 2010.

The excise is calculated at the central bank’s exchange rate on the first workday in October. Thus, the excise for 2009 shall be calculated at an exchange rate of RON3.7348 against euro, while for 2008 it was calculated at RON3.3515 against euro.

Also, the Euro 5 standard compels the oil companies to make various investments in their processing units, the costs being recovered from the fuel pump prices.

According to a European Commission directive, as of January 1, 2009 all fuel traded by the European Union member states must meet the Euro 5 standard, which contains a lower sulphur concentration.

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