In early 2023, Moldova registered a sharp increase in retail prices of petroleum products due to a number of objective factors - ANRE.
As the National Energy Regulatory Agency (ANRE) informs, besides fluctuations of international quotations, this is largely due to two objective factors. On the one hand, for the first half of 2023, ANRE increased the specific trade margin for retail sales of standard-type basic petroleum products by 11% - from 2.62 to 2.91 lei/liter. This increase was necessary in order to maintain an adequate balance between consumer interests and market reliability of petroleum products, especially in an environment in which the war in Ukraine continues to cause severe economic consequences for the states of the region, including Moldova. Most of the costs incurred by fuel sellers, such as labor, transportation or overhead costs, increased significantly in 2022, which caused the need to adjust the level of specific trade margin. On the other hand, as of January 1, 2023, the excise tax rates provided by the Moldovan Tax Code were increased. ANRE notes that under Law No. 257 of 16.12.2020 excise rates for most excisable goods were gradually increased for a period of 3 years, respectively for 2021-2023. As a result, starting January 1, 2023, the excise duty on 1 ton of imported gasoline increased by 637 lei, and on 1 ton of diesel - by 268 lei, which, consequently, gradually within 2 weeks will be reflected in the final price at gas stations in the amount of additional 48 bani per liter of gasoline COR 95 and additional 22 bani per liter of diesel fuel. Accordingly, the above-mentioned aspects, combined with the latest price increase tendencies on international markets, have formed the following maximum retail prices for basic standard-type petroleum products for tomorrow, January 4: petrol COR 95 - 23.32 bani per liter (+70 bani); standard diesel - 23.64 bani per liter (+46 bani). ANRE notes that the price increase, based on the increase of the specific trade margin and excise rate, is a one-time event, being felt more vividly only on the first settlement day of the New Year. Further, based on the current methodology, the dynamics of prices for basic standard petroleum products will be influenced only by the level of quotations on international exchanges and the national currency rate against the U.S. dollar. The energy regulator reminds that the current pricing mechanism for basic standard petroleum products provides fair, transparent and easily verifiable prices that accurately reflect the situation on the international market, both in periods of growth and decline in quotations. // 03.01.2023 - InfoMarket..
