Romanians Protest Fuel Price Hikes At Gas Stations Countrywide

Drivers and motorcyclists in Romania's major cities have started protesting Friday by crowding gas stations and buying small quantities of fuel which they then paid with coins.

Romania's Prime Minister Emil Boc said early this week the Government may introduce specific counter measures on the market, as special purpose taxes, against the producers who increase fuel prices rapidly and unjustifiably.

He also said he called on the Competition Council to verify if there is any monopoly on the local fuel market, and the tax authority ANAF to analyze the profit of the oil companies activating in Romania.

In November, central bank governor Mugur Isarescu said the fuel prices on the local market have a different evolution compared with the main factors that should influence them. Therefore, the central bank does not understand the mechanisms leading to the fuel price increases announced by producers.

According to the oil firms, pump prices are influenced mainly by the evolution of the international crude oil price and the leu/US dollar exchange rate.

The main oil companies activating on the local market are OMV Petrom (SNP.RO), Rompetrol, LukOil, MOL and OMV.

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