A new increase in fuel prices

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Posted by: Daniela Socolovschi

News / Economic

16 Jan. 2021 / 16:30

A new increase in fuel prices

Fuels have become more expensive. Some fuel stations in the capital showed higher prices on average with 1.0 leu for petrol and diesel. Economic experts claim that, apparently, the price increases are due to the 2021 increase in excise duties on fuels, but also due to the anticipation of the increase in the price of oil on international stock exchanges. TRM.MD specifies that the last price of the increase occurred on January 6, 2021. In the first days of the year, the price of fuel on international stock exchanges increased by over 5% and rose to about $54 a barrel on January 6, reports Moldova 1.

Economic experts say the increases could be justified because since January 1 the excise duty on petroleum products has increased by almost 9%, which means that a liter of petrol costs 0.40 leu more. If last year the oilmen paid an excise tax of 4.47 lei for every liter of benzene, this year the value of this tax increased to 4.87 lei.

Another factor that has led to higher fuel prices, according to economist Veaceslav Ionita, is rising prices on the international market.

"Theoretically, oil companies have reasons to raise the price of oil, but here we must remember that last year, in the midst of a pandemic, when the price of oil on international markets fell not so suddenly, but catastrophically for oil, we reached the minimum for 25 years, the oil companies have not rushed to lower the prices of petroleum products and we had to say so, an unfair price for petroleum products. Simply put, we paid much more than we had to pay," said Veaceslav Ioniţă.

Thus, the new prices for a liter of gasoline range between 17.8 lei and 17.15 lei, and for diesel it varies between 14.40 lei and 14.45 lei for a liter. Earlier, the Competition Council announced that it would intensify control over the formation of prices for Moldovan oil products in the context of their growth on international markets.

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