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Romanian PM Asks Whether Fuel Prices Can Be Frozen

Romanian Prime Minister Emil Boc has asked the Competition Council and Department for European Affairs to check whether fuel prices can be frozen in Romania on the basis of a law providing such an exception, but adopted before joining the European Union.
Romanian PM Asks Whether Fuel Prices Can Be Frozen
Ovidiu BarbulescuRadu Bostan
13 apr. 2011, 20:42, English

Boc said the two bodies will investigate whether this law is compatible with EU norms.

The Competition Council’s investigation of the local fuel market should be complete in the first half of the year, and the results will be sent to the European Commission, the authority’s president Bogdan Chiritoiu said Tuesday.

He said that a law adopted before Romania joined the EU allows freezing fuel prices in exceptional circumstances, but an evaluation is required to see whether the market is in such a situation.

A government report, revealed in January, said pump prices were groundlessly raised throughout 2010, while almost all the local oil companies reported significant losses for 2010 and their real profits were not reflected accordingly. Boc called for inspections by the tax and competition authorities targeting the oil companies.