The price of diesel continues to rise and has exceeded 10.75 lei per liter at some gas stations. Rompetrol and Lukoil implemented new increases on Thursday morning, after OMV Petrom had raised fuel prices the day before.
A liter of standard diesel now costs 10.76 lei at Rompetrol and Lukoil stations, according to data analyzed by Profit.ro.
Rompetrol, a company controlled by the Kazakh state, increased the price by 10 bani per liter, while Lukoil, a group controlled by the Russian giant of the same name, applied a 4 bani hike.
On Wednesday morning, OMV Petrom had raised diesel prices by 9 bani per liter. This brought it to 10.64 lei at Petrom stations and 10.70 lei at OMV stations.
Since the beginning of September, diesel has increased by 67 bani per liter at Petrom and OMV stations and by 73 bani at Rompetrol stations.
In other networks, the prices displayed in Bucharest on Thursday were 10.64 lei per liter at Socar and 10.65 lei at MOL.
Diesel price at a record level
The pump price increases come in the context of a strong rise in the international market. Platts' diesel quotation reached a record level of 1,665 dollars per ton on Wednesday, after a $90 increase. The previous record, 1,617 dollars per ton, was recorded in April.
The market is affected by escalating conflicts in the Middle East and Ukraine, regions crucial for supplying European countries with hydrocarbons. Competition for oil has intensified after Saudi Arabia suspended last week the shipments through the strategic East-West pipeline, used to bypass the Strait of Hormuz.
Excise reduction extended
The Ministry of Finance has extended until September 30 the 25% reduction in diesel excise. However, the law does not allow for a greater decrease, regardless of international price developments. The measure can be extended for two-week periods.
The excise reduction lowers the final price by approximately 85 bani per liter. Without this measure, diesel would cost over 11 lei at all networks: around 11.49 lei at Petrom and Socar, 11.55 lei at OMV, and 11.61 lei at Rompetrol and Lukoil stations, according to Profit.ro calculations.
Gasoline prices remained unchanged at Petrom and OMV stations. The other companies have applied slight price increases in the last 24 hours. A liter costs 9.99 lei at Lukoil, OMV, Rompetrol, and MOL, while the lowest price, 9.93 lei, is displayed at Petrom and some Socar stations.