Diesel became cheaper today. However, gasoline maintained its price.
Thus, the Petrom station on Șoseaua Virtuții in Bucharest, monitored by Economica, displays on April 26, 2024 a price of standard gasoline of 7.39 lei/liter, and the price of standard diesel is 7.41 lei/liter.
The oil company reduced the price of diesel by three paise per litre, but maintained the price of petrol, which makes the price difference between petrol and diesel reduced to just two paise per litre.
Diesel is generally more expensive
Romania, a country in which three refineries that produce fuels operate, is a net importer of diesel, but a net exporter of gasoline, given that diesel is the majority fuel used. For this reason, but also for other reasons, diesel is generally more expensive here than gasoline, a different situation compared to many European markets.
Today’s diesel price drop comes three days after the previous price drop. At that time, the oil company reduced the price of diesel by four pennies per liter and lowered the price of gasoline by two pennies per liter. Three days before the price reduction since then, there was another one, when only diesel was cheaper, by six pennies per liter.
The decrease in diesel prices at the pump is not only manifested in Romania. Reuters editor John Kemp recently wrote that institutional speculators were liquidating their diesel positions as prices began to fall. This decline, in turn, was the result of adjustments in global trade flows after the string of ship attacks carried out by Yemen’s Houthis in the Red Sea. It took some time for this adjustment to complete, but now it appears to be a fact, and that fact is putting pressure on diesel prices. Diesel production also appears to have picked up, largely dispelling concerns of a shortage as predicted last fall.
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