
Gasoline and diesel fuel prices have started to rise in Moldova again amid the growth of oil products' cost on the international market – the National Energy Regulatory Agency (ANRE).
The National Energy Regulatory Agency reported this, noting that, in particular, the current increase in prices for gasoline and diesel fuel in Moldova is taking place against the background of the growth of Platts quotations for fuel, which only in the last few days jumped by 9.6% for gasoline and by 3% for diesel fuel. At the same time, oil also crossed the threshold of $87 per barrel, thus being at the highest level since October 2023. As pointed out by ANRE, the current changes in foreign oil markets are a response to the latest forecasts of the International Energy Agency (IEA) on the growth of global demand without any foreseeable support from the supply side. And UBS analysts note that "positive oil demand statistics and the extension of OPEC+ voluntary cuts until the end of June this year have supported price growth." Recently, Iraq announced a reduction in crude oil exports by 3.3 million barrels per day in the coming months, and Saudi Arabia is reducing crude oil exports for the second month in a row. At the same time, experts at JP Morgan and Reuters note that given "Ukrainian attacks on oil infrastructure, Russian crude flows will decline by 300,000-370,000 barrels per day." Under these circumstances, for tomorrow, March 21, ANRE set the following maximum retail prices for basic standard oil products: gasoline COR 95 - 25.33 lei per liter (+10 bani); standard diesel - 22.01 lei per liter (+6 bani). ANRE said it continues to closely follow the developments on international oil exchanges and assured consumers of the correctness of the daily calculation of prices set for fuel purchases. // 20.03.2024 - InfoMarket