Romania’s Petrom To Cut Gasoline Prices On Excise Drop, Biofuel Introduction

Romania’s dominant oil company Petrom (SNP.RO) will decrease on Wednesday its gasoline pump prices by 0.06 lei (EUR1=RON4.2067) per liter, on the excise decrease and the introduction of the 4% biofuel-added gasoline, just a day after it enforced a RON0.07 price hike.

8 views

Thus, one liter of unleaded Premium gasoline will cost RON3.81 as of Wednesday, while the unleaded Top Premium 99+ gasoline will cost RON4.14 per liter.

One liter of OMV Carrera 95 and of OMV Carrera 100 will be sold with RON3.91, and RON4.54, respectively.

Petrom increased Tuesday the gasoline prices by RON0.07 per liter.

The Romanian legislation forces the oil products’ distributors and producers to sell only 4% biofuel-added gasoline as of July 1. The gasoline currently sold on the local market already contains a minimum 2% biofuel as of January 1, 2009.

In 2007, Romania’s Government decided that the fuel producers and distributors must mix the fuel they sell with biofuel. Thus, as of July 1, 2007, the diesel oil contains 2% of biofuel, the percent rising to 3% on January 1, 2008. As of July 1, 2008, the diesel oil sold on the local market contains 4% biofuel.

The use of the biofuel is considered to be a good solution to fight global worming and reduce the pollution.

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.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.