Romania’s Petrom To Cut Gasoline Pump Prices By RON0.03/Liter

Romania’s largest vertically integrated oil company Petrom (SNP.RO), owned by Austria’s OMV (OMV.VI), will cut Wednesday its gasoline pump prices by 0.03 lei (EUR1=RON3.8391) per liter, keeping the same prices for its diesel oil, the company said in a statement.

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Petrom operated a similar price change on Monday and cut its gasoline and diesel oil reference prices by another RON0.03 per liter.

As of Wednesday, one liter of unleaded Premium 95 and unleaded Top Premium 99+ will cost RON3.13, and RON3.46 per liter, respectively.

One liter of OMV Carrera 95 and of OMV Carrera 100 will also cost less, namely RON3.23 and RON3.86, respectively.

The prices of fuel sold in the Petrom gas stations may vary by +/- 5%, compared with the reference prices, the company announced.

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.

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