Elimination of 'cent per litre' brings this year's first fuel price cut

The biggest players on the Romanian oil market, Petrom and Rompetrol, announced the first price cuts this year, of around 4 bani (1 RON – 100 bani) per litre. The move did not come amid protests in filling stations or as a result of politicians’ tough statements, but as a result of the elimination of a tax, namely the ‘cent per litre’.

“Owing to the reduction of the tax component by 0.01 dollars, after the collection of the tax representing the Special Fund for Oil Products (FSPP) was suspended, fuel prices in OMV and Petrom filling stations will fall by 4 bani per litre starting 25 January 2011,” say the representatives of Petrom, Romania’s biggest company.
In their turn, the representatives of Rompetrol, the second biggest player on the domestic oil market, say the company operated a price reduction by 3 bani starting the same day for all types of fuel sold in its network.
The Special Fund for Oil Products was set up to cover the debts of former Compania Română de Petrol worth around 647.3m dollars.