At the end of 2010, petrol sold in Romania is 65% more expensive than at the start of 2009, with the domestic market having the second highest price increase in the two years of recession in Europe.
Fuel consumption has not picked up in the past two years and for next year the most upbeat estimates point to stagnation. Though when demand drops, prices should follow the same trend, petrol and diesel oil go against the classical rules of economy.
During these two years, market conditions have continuously deteriorated, so that fuel demand is likely to contract by around 10% this year. Moreover, macroeconomic data are not supporting consumption, either.
Nevertheless, major oil companies are reporting rising turnovers, admitting though, that it was not quantities that were higher, but only price hikes could offset the declining volumes.
European statistical data show that in January 2009-November 2010, the price variation in euros stood at 65% in the case of petrol and 37% for diesel oil. With these figures, Romania ranks second among the 27 members of the EU in terms of petrol price increase and fourth in the case of diesel oil price increase.
At the end of 2010, petrol sold in Romania is 65% more expensive than at the start of 2009, with the domestic market having the second highest price increase in the two years of recession in Europe.
Fuel consumption has not picked up in the past two years and for next year the most upbeat estimates point to stagnation. Though when demand drops, prices should follow the same trend, petrol and diesel oil go against the classical rules of economy.
During these two years, market conditions have continuously deteriorated, so that fuel demand is likely to contract by around 10% this year. Moreover, macroeconomic data are not supporting consumption, either.
Nevertheless,
