In just two months' time, the price of petrol went up 2.6%,while that of diesel oil has risen 5%.
Economic analysts believe the major fuel price increases coulddrag Romania back into recession, saying the national advantage ofhaving its own reserves is next to zero.
The price of petrol and diesel oil sold in Romania has reachedhistoric highs, with certain fuel varieties rapidly approaching the6 lei per litre mark, after five price hikes have been made sincethe beginning of the year.
In addition, violence in North Africa yesterday brought the oilbarrel to 116 dollars, with some fearing it could exceed the147-dollar historic high reached in 2008.
Romania, which produces almost half its oil needs throughPetrom, seems to have no advantage, at least as far as the pricepaid by consumers is concerned, when compared with countries withlittle resources, which have to import massively, as is the case ofBulgaria, Hungary, Poland and other EU member states.
"We do not have benefits from the fact that we have oil reserveshere. We are not talking about the jobs or about whether or notRomania would manage if deliveries were suspended, but about theprice advantage of the end consumer. If we were completelydependent on imports, perhaps we would not have controlled pricesany more, as is the case for natural gas," said Daniel Dăianu,professor of economics and former finance minister.
Representatives of Petrom, the biggest company in Romania,explain, however, that the price of fuel has nothing to do with theoil reserves, but with market conditions. By making fuel moreexpensive and by cutting costs, Petrom managed to post a net profitof over 520 million euros at the end of 2010, a record-high levelreached in the second consecutive year of recession for theRomanian economy.
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