New amendments to the Law on the Oil Products Market came into force on September 1 after the publication of the corresponding law in Monitorul Oficial (the Official Journal of Moldova).
The aforementioned law was promulgated by Moldova’s President Maia Sandu on August 26 and entered into force on the day of its publication. The document stipulates that the National Energy Regulatory Agency within 30 working days from the date of entry into force of this law must bring its regulations in accordance with it, and the government of the Republic of Moldova, within 6 months after the publication of the law, must bring the regulatory framework in accordance with its provisions. As InfoMarket reported earlier, according to the amendments to the Law on the Oil Products Market, approved by the parliament, prices for all types of fuel have been liberalized in Moldova, except for the main standard oil products: COR 95 gasoline and diesel fuel without a trade name. The National Energy Regulatory Agency (ANRE) will set maximum retail prices for major standard oil products each business day, and they will be valid from 00:01 on the day / days following / following the day of establishment. The maximum retail prices for basic oil products of the standard type, including the values of the indicators obtained by the formula (PLхCV), VAT rates, excise rates, specific trade margin and density for each of the main petroleum products of the standard type separately, will be published on the official website of ANRE. At the same time, retail sale of basic oil products of a standard type at a price exceeding the maximum price set by ANRE is prohibited. In addition, the amendments to the Law on the Oil Products Market also provide for the softening of the conditions for obtaining a license for the import of oil products by a 5-fold reduction in the mandatory storage capacity that the importer must comply with, from 5 thousand to 1 thousand cubic meters. Another provision of the law eliminates the need to own capital of at least 8 million lei, since, as the authors of the document considered, this minimum amount prevents many new economic agents from entering the market. // 01.09.2021 – InfoMarket
