OMV Petrom Ups Pump Prices By Up To RON0.08 Per Liter

Romanian oil company OMV Petrom (SNP.RO) Tuesday raised its pump prices by up to RON0.08 per liter, after an increase in local excise duties.

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The company said that products containing biomass were initially beneficiaries of a reduced excise, but the revised Tax Code removed this incentive.

The code amendment led to an increase by RON0.08 of the price of gasoline containing at least 5% biomass, while diesel fuel containing at least 5% biomass got a RON0.06 price hike.

OMV Petrom is owned by Austrian oil and gas group OMV.

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