ANRE has provided detailed information on the procedure for regulating prices for basic standard-type oil products and the components of these prices.
According to the National Energy Regulatory Agency (ANRE), such information has been provided in order to ensure full transparency and clarity for consumers regarding the mechanism for setting and limiting maximum retail prices for the main standard-type petroleum products - COR 95 gasoline and diesel fuel without a commercial name. The Energy Regulator recalled that after the amendments to the Law on the Petroleum Products Market, from September 1, 2021, adjustments and changes were made to the Pricing Methodology for petroleum products. The document regulates the procedure for calculating maximum retail prices only for basic petroleum products (gasoline COR 95 and diesel fuel without a commercial name), the procedure for calculating specific trade margins, the procedure for setting prices by economic agents based on maximum prices published by the ANRE, etc. The formation of the maximum selling prices for the main oil products of the standard type is based on 4 components: The average value of Platts average quotations for 14 days before the settlement day (changes daily depending on the exchange price and the MDL/USD exchange rate); excise; value added tax; specific trading margin (changed by ANRE every 6 months). ANRE notes that the price of a tonne of gasoline or diesel fuel is set by the refinery depending on the daily changes in Platts international quotations, in the same way as it is reflected in the price calculated by ANRE. When entering the country, importers of petroleum products pay an excise duty, which changes annually in accordance with the Tax Code, as well as a value-added tax, which is fixed. ANRE sets every 6 months and regulates only the specific trade margin, which should cover the costs associated with the import and marketing of basic petroleum products (including the costs of transportation and insurance of petroleum products on the territory of other countries, fees for customs procedures and fees for pollutant emissions), based on 1 liter of oil product plus the company's profit. Currently, the specific trade margin is set at 2.62 lei/liter. The daily fluctuations of the retail price published on the ANRE website depend solely on the dynamics of the average value of Platts average quotations for 14 days before the settlement date and the MDL/USD exchange rate). According to the energy regulator, the ANRE methodology ensures that the price set daily for the main oil products accurately reflects both the upward and downward trend of Platts international quotations. The existing mechanism ensures fair prices that are easily verifiable with maximum transparency. ANRE has also provided graphs illustrating the dynamics of changes in 4 components, on the basis of which the maximum retail prices for the main standard-type oil products are calculated - gasoline COR 95 and diesel fuel - from September 2021 to February 2022. // 17.02.2022 - InfoMarket
