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Retail prices for petroleum products in Moldova continue to decrease amid a drop in prices on international exchanges - ANRE.

Retail prices for petroleum products in Moldova continue to decrease amid a drop in prices on international exchanges - ANRE.

The National Energy Regulatory Agency (ANRE) reported this, noting that according to Trading Economics, Brent oil prices remained at $104 per barrel on July 7 and are expected to finish the week near this value. Nevertheless, oil prices are up about 35% from the beginning of this year, due to the fact that the post-crisis global economic recovery has coincided with the disruption of traditional markets and supply chains due to the war in Ukraine. At the same time, the average Platts quotes on July 8 were down by $57.8 per ton of gasoline (-4.3%) and $124.6 per ton of diesel (-9.3%) compared to June 24 (14 previous days). This fact has conditioned a gradual decrease in the retail prices for the main petroleum products of the standard type (gasoline COR 95 and diesel fuel) in Moldova. ANRE reminded that Brent oil prices are only a reference point and are not the basis for fuel trading decisions. The price of petroleum products, such as gasoline and diesel, is correlated to quotations set daily by the U.S. Company S&P Global Platts. Recently, due to the changes taking place in the world fuel market, Brent oil quotes and Platts quotes are becoming less and less interdependent, with prices being dictated solely by supply and demand in the market. In these circumstances, proceeding from the price setting algorithm, based on the average value of the average Platts quotes for the previous 14 days, correlated with the MDL/USD exchange rate, ANRE set the following maximum retail prices for main petroleum products of standard type for the period of July 9-11: petrol COR 95 – 32.13 lei per liter (-0.17 lei); diesel fuel – 30.01 lei per liter (-0.37 lei). ANRE reiterated that it guarantees the correctness of the maximum retail prices for basic standard-type petroleum products, calculated in compliance with the normative acts in force, and monitors the compliance of all companies in the sector. // 08.07.2022 – InfoMarket

News on the subject

Imports of petroleum products in Moldova in the first quarter of 2022, compared to the same period of 2021, increased by 21.9%, from 173.66 thousand tons to 211.69 thousand tons.
Imports of petroleum products in Moldova in the first quarter of 2022, compared to the same period of 2021, increased by 21.9%, from 173.66 thousand tons to 211.69 thousand tons.
The average price of diesel imports to Moldova in the first quarter of 2022 increased by 46.8% in USD terms - up to $1107.2 per ton.
The average price of diesel imports to Moldova in the first quarter of 2022 increased by 46.8% in USD terms - up to $1107.2 per ton.
The average price of gasoline imports to Moldova in Q1 2022 increased in USD terms by 29.6% to $1016.9 per ton.
The average price of gasoline imports to Moldova in Q1 2022 increased in USD terms by 29.6% to $1016.9 per ton.
Diesel fuel supplies to Moldova increased by 26.6% to 155.02 thousand tons in the first quarter of 2022 as compared to the same period of 2021.
Diesel fuel supplies to Moldova increased by 26.6% to 155.02 thousand tons in the first quarter of 2022 as compared to the same period of 2021.
Gasoline imports to Moldova in physical terms increased in the first quarter of 2022 by 18.5% - to 43.91 thousand tons, compared to the same period of 2021.
Gasoline imports to Moldova in physical terms increased in the first quarter of 2022 by 18.5% - to 43.91 thousand tons, compared to the same period of 2021.
Moldovagaz asks ANRE to increase the tariff for natural gas supply to households by 42.4% - from 18.62 to 26.52 lei per 1 cubic meter, including VAT.
Moldovagaz asks ANRE to increase the tariff for natural gas supply to households by 42.4% - from 18.62 to 26.52 lei per 1 cubic meter, including VAT.