Romania, EU To Discuss Local Fuel Market Probe Results, Measures

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Romanian authorities and EU officials will hold several rounds of talks over the next few weeks, before the completion of the fuel market report, the people said.

The fuel market probe was launched in 2005 and refreshed in 2009, when the team working the case was replaced.

The government tasked the Competition Council and the fiscal watchdog ANAF with finding why fuel pump prices rose „inexplicably” throughout 2010.

In addition, prime minister Emil Boc asked the Department for European Affairs and the Competition Council to look into the possibility of freezing fuel prices, based on a law that allows such a measure under exceptional circumstances.

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However, the law in question was enacted before Romania’s accession to the EU, and, according to dominant oil company OMV Petrom (SNP.RO), there are no precedents of such actions on a free market.

Data from Romanian statistics office INS shows that fuel prices rose more than 15% in 2010, after a 13% hike in 2009.

The top players active on the local fuel distribution market are Petrom, Rompetrol, Lukoil and MOL.