The announcements for the increase of fuel prices, expected for the next period.
The reflection of the international quotations in fuel prices at the pump will be felt from next month, when we can expect that the price of gas and diesel to reach the 5 lei level. Yesterday, the oil price reached a new record on the Asian markets: 135.04 dollars per oil barrel.
A 10% raise on the international markets represents for a 45 days period a 5% increase of the pump prices in Romania, according to specialists. For the 5 lei price per liter of fuel it was necessary a quotation of 133 dollars/barrel on the international markets.
The unstoppable raise of gas stations prices is justified by the fact that the intern production doesn't cover the necessary of consume, and all the companies which are active on the Romanian market, excepting Petrom, are importing unrefined oil which is processed and then supplies it to petrol stations. The fuel prices exploded in the European Union, even though the Europeans are buying oil with a more powerful currency: the dollar, the currency in which the oil transactions are made, reached the maximum level of depreciation in the last month compared to other currencies.
The "electoral" reactions started to appear: even though ot doesn't have a mechanism of control of the prices imposed by the private companies, Varujan Vosganian, the minister of economy and finances, said, yesterday, that "the actual prices are defying, in the conditions they are bigger than in countries that don't have oil reserves (like those from our country, exploited by OMV-Petrom). The Americans are starting to feel the shock
The quotes for the oil which will be delivered in July raised with approximately 3 dollars in only one day, a value that was usually recorded in a few years. Only in five months, the oil price raised with 40%, and compared to 10 years ago, with 900%. The actual increase is caused by the depreciation of the dollar and by the informations about the decrease of oil stocks in the USA, according to Reuters.
The quotations reached new records in 10 of the last 14 transaction sessions because the traders fear an eventual uncovering of the demand, with the supply of the exporting countries. China is the most important oil consumer during this period, and the turbulences from the market are caused by the values traded by companies outside the oil domain, like pensions funds of real estate companies.
The crisis is hitting the American airlines, which announced, through American Airlines, that they will be forced to cancel flights, to send hundreds of people into unemployment and to force passengers to carry only one bag. The US analysts assisted at an increase in the price of an oil gallon to over 4 dollars and they are predicting an unbelievable situation for the USA: 10 dollars per gallon, if the prices will continue to grow.