ANRE comments on why fuel costs have gone up

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News / Economic

17 Jan. 2020 / 13:21

ANRE comments on why fuel costs have gone up

The National Agency for Energy Regulation (ANRE) comments, in connection with the increase this morning of the petroleum products, that according to the legal provisions, the licensees establish and independently modify the retail prices of the main oil and liquefied gas products. However, the economic agents must submit to ANRE calculations within three days from the display of the new prices. However, to date, ANRE has not received any information in this regard.

According to ANRE, the licensees establish and modify the prices independently, taking into account the consumption and the expenses related to the marketing of the respective products, in accordance with the applicable accounting standards, including an annual rate of return, but that should not exceed 10%. The prices are calculated based on the import price of the petroleum products, the excise duty rate and the value added tax applied in accordance with the Fiscal Code. Also, the commercial and administrative expenses related to the commercialization of the main oil products and the retail liquefied gas are taken into account, as well as the applied profitability.

"At the same time, the fiscal-budgetary policy for 2020 foresees an increase in the share of excise duties, for gasoline - 5,960 lei / ton or 546 lei (10%) more than in 2019, for diesel - 2,508 lei / ton or 228 (10%) lei more than in 2019 and for liquefied gas 3,580 lei / ton or with 174 lei (5%) more than in 2019,” reads the press release issued by ANRE.

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