Romania: Second lowest fuel price in EU after tax cuts

Romania has the second lowest fuel & diesel price in the European Union following the removal of the extra excise duty and the new VAT rate cut, which became effective on January 1, 2017, reports local Economica.net.

The average gasoline price in Romania amounts to EUR 1.049 per liter whereas the average diesel price stands at EUR 1.046 per liter, according to the latest Oil Bulletin statistics.

Only Bulgaria has a lower gasoline price compared to Romania, namely EUR 1.039 per liter. Meanwhile, Luxembourg is the only country that has a lower price for diesel, namely EUR 1.028 per liter. The EU average amounts to EUR 1.37 for gasoline and EUR 1.046 for diesel.

The new Government tried to convince the old one to postpone the implementation of these tax cuts, arguing that Romania had the highest fuel prices in Europe, and there was no guarantee that fuel distributors would actually transfer the tax cuts into the retail prices.

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