Romania’s Petrom Hikes Fuel Prices By Up To RON0.10/Liter

Romania’s largest vertically integrated oil company Petrom (SNP.RO) will hike Tuesday gas and diesel oil prices by up to 0.10 lei (EUR1-RON3.4833) per liter, due to an increase in international quotations, the company said in a statement Monday.

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Petrom’s price policy enforced early 2005 is subject to international quotations of oil prices and to the domestic market.

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. It has 450 gas stations on the local market, 79 of which are PetromV.

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