Lukoil Romania Follows Fuel Price Moves With RON0.06/Liter Hike

04.08.2011 By Andrei Circhelan

Oil company Lukoil Romania on Friday raised its pump prices by 0.06 lei (EUR1=RON4.1146) per liter, after competitors OMV Petrom (SNP.RO) and Rompetrol announced price increases by RON0.09 per liter earlier the same day.

Oil company Lukoil Romania on Friday raised its pump prices by 0.06 lei (EUR1=RON4.1146) per liter, after competitors OMV Petrom (SNP.RO) and Rompetrol announced price increases by RON0.09 per liter earlier the same day.

Lukoil now sells Ecto gasoline for RON5.75 per liter and Ecto Super Diesel fuel for RON5.65.

Euroluk 95 gasoline now costs RON5.26 per liter, while Euro L Diesel costs RON5.33 per liter.

The Lukoil group holds the Petrotel refinery in Romania, as well as a network of 300 gas stations nationwide.

Romania's top fuel distributors are Petrom, Rompetrol, Lukoil Romania and MOL.

Oil companies increased fuel prices several times since the beginning of the year. Romania's statistics office INS said fuel prices rose by more than 15% in 2010, after a 13% increase in 2009.

Romania's fuel distribution market is under Competition Council scrutiny since 2005, but an investigation conclusion is pending.

Prime minister Emil Boc recently said the government cannot intervene in the fuel market, and companies have the right to set prices on their own.