Fuel prices will be reduced when Platts quotations decrease – ANRE stated.
Director of the National Agency for Energy Regulation, Eugen Carpov, said this at a press conference on to the formation of maximum retail prices for basic oil products of the standard type - 95 gasoline and diesel fuel without a commercial name. He drew attention to the fact that in September of this year, Platts quotations for diesel fuel increased and reached their highest point on September 14, which largely influenced the growth of maximum retail prices for this oil product. However, these quotations are now declining. At the same time, Platts quotations for 95 gasoline continue to grow. Eugen Carpov emphasizes that Platts quotations and exchange rates are one of the four most important factors that are taken into account when setting maximum retail prices. In particular, their share in the formation of prices for 95 gasoline accounts for 47% of the final price. Along with these quotations and exchange rates, specific trade margins (16%), excise taxes (24%) and VAT (17%) are taken into account. If maximum retail prices for diesel fuel are formed, the share of Platts quotations and the exchange rate is 54%, specific trade margin - 15%, excise taxes - 14%, and VAT - 17%. Eugen Carpov claims that the amendments to the Law on Oil Products Market, entitling ANRE to set maximum retail prices for 95 gasoline and diesel fuel every two weeks, did not provoke a rise in prices, but kept them growing. According to him, if prices were formed according to the old law, they would be much higher than now. Eugen Carpov confirmed that a difficult period remains in the oil products market, however, he assured that ANRE and the authorities are making every effort to pass this period as calmly as possible for citizens. As a reminder, ANRE publishes daily only the maximum retail prices for basic oil products of the standard type - 95 gasoline and diesel fuel without a commercial name. As Eugen Carpov explained, prices are set daily, since the previous experience of setting prices every two weeks led to a greater "shock" to consumers of oil products. We also remind that according to the new amendments to the Law on Oil Products Market, petrol stations are allowed to retail other types of basic oil products, except for those for which ANRE sets maximum prices, only subject that basic oil products of the standard type are sold at the same petrol station. // 21.09.2021 – InfoMarket
