Drivers were in for a surprise, after diesel prices fell and became cheaper than gasoline, a situation encountered for the first time in ten months.
At a gas station in Bucharest, the price of gasoline is four pennies higher than that of diesel. Standard gasoline is sold at 7.49 lei per liter, while standard diesel costs 7.45 lei per liter.
Last year, at the beginning of summer, the price of gasoline was practically the same as that of diesel.
Diesel, cheaper than petrol, for the first time in ten months
In the fall of 2023, the price of diesel was 75 money higher than gasoline. Regardless of fuel type preference, price fluctuations over the past year have taken a toll on drivers financially.
Compared to the previous month, the average price of a liter of petrol increased by more than 3%, while the price of diesel saw a slight decrease of less than 1%.
In the previous year, the cost of a liter of standard gasoline exceeded eight lei, while standard diesel exceeded nine lei per liter.
Photo source: Flynt | Dreamstime.com
Platts international quotations influence fuel prices in Romania
According to an analysis carried out by the Competition Council, fuel prices at gas stations show a parallel evolution with Platts international quotations for petrol and diesel, but with a lag of several days.
The international reference price, known as the Platts quotation, is used in the oil industry to determine how much diesel and gasoline are sold for.
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This value is influenced by demand, supply and transactions between traders in the wholesale fuel market. Platts quotes are not public and tend to follow the price of a barrel of oil over the long term.
Therefore, when the international Platts quotations for gasoline and diesel register increases, the price of fuel at the pump in Romania rises, and when the quotations fall, the prices at the gas stations are reduced.
