Romania: Fuel prices will go up by EUR 13 cents starting September the 1st

The drivers will pay more for gasoline and diesel in Romania starting this fall, as the Government is planning to increase the excise duties on fuel starting September 1.

The measure appears in a draft ordinance amending the Fiscal Code, which was published by the Ministry of Finance.

Romanian government plans to increase gasoline and diesel taxes after income revenue from fuel fell at the start of the year, AP correspondent reports.

Under the proposal, a liter of gasoline or diesel will cost about 0.5 lei (13 cents) more after the price hikes, which will to come into effect Sept. 1. Romania has some of the lowest fuel prices in the EU, with a liter costing just under a euro (85 cents).

The government said Tuesday taxes represented about half the cost of gasoline, less than in other European Union states, where they are about 60 percent.

The government said revenue dropped by 768 million lei ($199 million) in the first quarter of 2017 compared with a year earlier. It pledged to not raise fuel taxes again before 2020.

Central bank BNR governor Mugur Isarescu also commented on the Finance Ministry’s plan to up the excise duties on fuel, saying that this measure will push the inflation up.

Deputy Victor Ponta, former prime-minister, claims that Romania’s energy system is in danger, and that the current minister is actually guilty of this situation, given his “incompetence”.

 

 

 

Source: Ministry of Finance draft ordinance.

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