Romania’s Rompetrol To Cut Pump Prices By RON0.05/Liter

Romania’s second-largest oil company Rompetrol Group NV, owned by Kazakhstan's KazMunaiGaz, will cut Thursday its pump prices by 0.05 lei (EUR1=RON3.5842) per liter, the company said in a statement.

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Rompetrol will cut its Premium Euro 4 gasoline price to RON4.23 per liter. One liter of Efix 95 gasoline will cost RON4.19, while one liter of unleaded Euro Super 98 will cost RON4.82.

The company will cut its Efix Euro 4 diesel price to RON4.56 per liter and the Super Euro 5 price to RON4.85 per liter.

Rompetrol hiked its pump prices by RON0.03 per liter a week ago.

Lukoil Romania, a unit of Russian oil company Lukoil Holdings, cut last week certain gasoline and diesel oil pump prices, after they were hiked by up to RON0.12 per liter early July.

Romania’s largest oil company Petrom SA (SNP.RO) hiked Tuesday gasoline and diesel oil pump prices by RON0.8, and RON0.06 respectively.

Lukoil, Petrom and Rompetrol own the highest number of gas stations in Romania, covering together over 60% of the market.

International oil prices, which affect the fuel price, rose by 50% since the beginning of the year, and doubled compared with the corresponding period a year earlier, hitting a historic record of over $147 per barrel.

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