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The increase in diesel prices on international markets and in Moldova is due to a significant reduction in diesel stocks in Europe - ANRE.

The increase in diesel prices on international markets and in Moldova is due to a significant reduction in diesel stocks in Europe - ANRE.

As the National Energy Regulatory Agency (ANRE) noted, after a period of cheapening, which lasted about 2 months, a slow increase in fuel quotations has been observed in the last two weeks, with a more pronounced increase for diesel fuel. According to the current methodology, the maximum prices for petroleum products, set by ANRE, follow the dynamics of quotations on international exchanges, which is the main component that affects their level on a daily basis. According to data provided by Trading Economics, there are credible reasons affecting the prices of petroleum products, especially diesel fuel. Among the main reasons is a significant reduction in diesel stocks in Europe. At the same time, stocks in other regions are severely depleted, including in key U.S. and Singapore hubs, as global diesel levels are well below recent averages. Platts Analytics warned that stocks "are not growing fast enough ahead of harvest and the heating season." According to ANRE, the rise in demand for diesel fuel is also due to uncertainty over Russian supplies to Europe as EU sanctions against Russian imports take effect in February 2023. According to Trading Economics, Brent crude oil prices exceeded $102 a barrel on August 25, rising to their highest level in three weeks. At the same time, Platts quotes, which are benchmarks for the oil industry, on the basis of which prices are formed, have risen over the past 14 days for diesel fuel by $152 per ton (+14.87%). As for gasoline quotations on international exchanges, they have been less affected in the same period. The retail prices for gasoline are only slightly affected by the dynamics of the exchange rate. Thus, for tomorrow, August 26, ANRE has set the following maximum retail prices for the basic standard petroleum products: for gasoline COR 95 -25.81 lei per liter (-3 bani); for diesel - 27.14 lei per liter (+37 bani). ANRE guarantees the correctness of the maximum retail prices for the main standard petroleum products, calculated in accordance with the normative acts in force, and monitors their observance by all the companies in the sector. // 25.08.2022 - InfoMarket.

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