Price drops in gas stations: Romania, in the top European countries with the cheapest fuel

After the prices of basic food items have experienced significant decreases, now the price of gasoline has also decreased, once again, reaching 7.34 lei/liter, while a liter of diesel remains at 7.31 lei. It is the second fuel price reduction since May. Apart from the fact that Romanians will pay less to fill up their personal cars, these price drops will also be reflected in the prices of goods and services.

Petrom, the main fuel supplier in Romania, reduced the price of gasoline by four pennies per liter and kept the same price for diesel, thus approaching a balance between the two types of fuel. Although petrol remains more expensive than diesel, there are a few stations where the price of standard petrol has fallen below that of diesel by a penny.

This is the sixth consecutive drop in fuel prices in recent months and the second in May. The previous reduction took place on May 3, when Petrom reduced the price of diesel by five paise per litre, without changing the price of petrol. And today’s decrease comes after a similar one on April 27, when the price of diesel was reduced, without changing the price of gasoline.

Yesterday’s drop came just three days after the last price cut, when both types of fuel were affected. Thus, in recent weeks, Petrom has implemented several price adjustments, sometimes affecting only diesel, other times reducing the prices of both types of fuel. The last time the price of petrol was close to that of diesel was in August 2023, but due to seasonal demand, both local and regional, in November the difference between the price of diesel and petrol reached a maximum of over 75 money/l.

Romanians enjoy a significant drop in fuel prices and it will help reduce inflation, and allow Romanians to save more money or spend it in other areas of life. For most of us, the car is the main mode of transportation. Lower fuel prices will bring significant relief to household budgets and may reduce expenses for daily transportation to work or other activities.

For small and medium-sized companies, as well as for farmers, we are talking about lower costs for transporting goods and agricultural products to markets. Thus, the decrease in the price of fuel contributes to the stimulation of economic growth and the creation of jobs in communities.

Likewise, the drop in fuel prices will also be felt in off-the-shelf prices. This in the conditions where basic foods already benefit from price reductions of 30%, compared to the same period last year. The main reason for the reductions in prices of basic foods is the PSD measure which aimed at capping the commercial markup at a maximum of 20%, with the aim of reducing the financial burden on consumers and encouraging competition between traders. Although there has been a great deal of criticism of this measure, we are seeing a drop in prices and a reconfiguration of economic dynamics. This was also the reason why the PSD decided to maintain the measure until the end of 2024 when the inflation rate is expected to reach below 5%.

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