Business in Romania blog: Doing business in Romania and business issues

The business in Romania blog writes about the Romanian business landscape, doing business in Romania, investing in Romania business and debating on business issues in Romania. Check this Blog's Policy here.

Sitemap | Feedback | Doing Business in Romania report | Opening a Business in Romania | RSS for this Blog

Monday, January 24, 2005

For the first time in Romania: Petrom drops fuel prices

Petrom was the first to announce lower fuel prices Saturday, after the Competition Council two weeks ago asked oil companies in Romania to justify recent oil price increases.

The Council will be asking a list of Romanian oil companies to clarify the reasons behind the rises. The companies involved are Petrom, Lukoil Downstream, Rompetrol, OMV Mineraloel, Agip, MOL Romania Petroleum Products and Shell Romania.

Petrom decided late last week to decrease prices seen at the gas stations and apply a new commercial policy to update prices every week, depending on quota swings in the international oil markets and the local competition field.

According to company officials, the price for Euro Premium gasoline dropped from 32,550 ROL (0.87 euros) per liter to 29,900 ROL.
Eco Premium gasoline liter now costs 30,400 ROL, 350 ROL less than it did before the price decrease.

However, unleaded premium gasoline and liquefied petroleum gas (LPG) will stay unchanged at 29,900 ROL, and 16,500 ROL, respectively, per liter.

Petrom's weekly price updates will depend on how the Romanian and South Eastern European markets fluctuate.

Up until now, Petrom only periodically changed its prices.

For the next several weeks, the new Petrom prices will be the same across the entire distribution network.
Once a new marketing strategy is implemented, price differences will depend on local circumstances.

Before, Petrom's branches could establish oil prices at plus or minus 5% the benchmark imposed by the group.

Posted by Iulia Rasoiu : 1/24/2005 03:30:00 pm