Romania Fuel Prices August 1: Diesel Tops RON 10.4/L — NRG-IA

Diesel starts the month of August above the threshold of RON 10.4 per liter in almost all major Romanian cities. At the lowest prices recorded on August 1, a 50-liter tank costs between RON 519 and RON 522, approximately RON 45–48 more than less than two weeks ago. In Bucharest, the lowest identified price is of RON 9.36 per liter for standard gasoline and RON 10.42 for diesel . In Cluj-Napoca, the minimums are RON 9.39 for gasoline and RON 10.44 for diesel . In Timișoara, gasoline starts at RON 9.33 , while diesel starts at RON 10.38 . In Iași and Constanța, the lowest values are RON 9.36 for gasoline and RON 10.42 for diesel . For a 50-liter tank, this translates to approximately RON 468 for gasoline and RON 521 for diesel in Bucharest , RON 469.5 and RON 522 in Cluj-Napoca , RON 466.5 and RON 519 in Timișoara , and RON 468 and RON 521 in Iași and Constanța , respectively. These values represent the lowest prices identified in each city, not the average across all stations. Prices may vary from one filling station to another and can change during the same day. Diesel prices have risen by nearly one leu in less than two weeks The difference compared to July 21 is already significant. Back then, standard diesel could be found at RON 9.49 per liter in all five analyzed cities. On August 1, the lowest prices are 89–95 bani per liter higher . For gasoline, the increase over the same period is smaller, at approximately 64–74 bani per liter . The upward trend accelerated in the final days of the month. On July 28, diesel could be found at around RON 9.88–9.92 per liter . Four days later, the minimums had reached RON 10.38–10.44, representing an additional increase of approximately 50–55 bani per liter . Gasoline rose by approximately 30–33 bani per liter over the same interval. Over the last 30 days, Peco Online indicates an average price increase of approximately 8.4% for gasoline and 13.2% for diesel . For a 50-liter tank, the difference compared to the beginning of the period is about RON 36.5 for gasoline and RON 61 for diesel. Visible differences even among major retail networks At the level of major retail chains, aggregated data for August 1 show differences of a few bani for gasoline and larger variations for diesel. At Socar , the indicated average is approximately RON 9.37 per liter for gasoline and RON 10.43 for diesel . At Petrom , the values are around RON 9.40 and RON 10.55 . At Rompetrol , the average is approximately RON 9.42 for gasoline and RON 10.48 for diesel , while at MOL , it is about RON 9.42 and RON 10.47 . At OMV , average values are approximately RON 9.47 per liter for gasoline and RON 10.63 for diesel . At Lukoil , the indicated average is about RON 9.44 for gasoline and RON 10.68 for diesel . These values are averages for the monitored networks, not uniform prices across all stations. Local differences can be significant, and the lowest price in a city may be below the national average of that respective network. Excise duty added approximately 36 bani per liter from July 1 A clear portion of the July price hike stems from taxation. Starting July 1, the temporary reduction in the diesel excise duty expired, and the tax returned to its previous level. The Competition Council estimated the impact of this change at approximately 36 bani per liter of diesel, including value-added tax (VAT) . The effect was immediate. At the beginning of July, some networks increased diesel prices by about 38 bani per liter, with almost the entire difference explained by the return of the excise duty. However, this fiscal component does not explain the accelerated growth in the latter part of the month. On July 21, the increased excise duty was already factored into the price, yet diesel was still selling from around RON 9.49 per liter. The jump to over RON 10.4 occurred later. Crude oil has surged, but it no longer explains pump prices on its own Brent crude ended July 31 at approximately $90.12 per barrel , following a 1.2% increase in the final trading session of the month. Overall in July, Brent advanced by approximately 24% . The cost of crude oil thus remains a major source of pressure on fuel prices. However, crude oil does not go directly into the fuel tank. It must be transported, processed in refineries, and converted into gasoline, diesel, or aviation fuel. When enough refineries temporarily go offline, the price of the finished product can rise faster than the cost of crude oil. This is the divergence that is becoming increasingly important heading into August. Diesel now has its own problem: too little available refining capacity European diesel refining margins have climbed to exceptionally high levels. Reuters reported on July 30 that the spread between the value of diesel and the cost of the crude oil required to produce it had reached a record of approximately $74.66 per barrel . An analysis published by European Central Bank economists shows how much this price component has changed.…