If the oil price on the international market will raise with 13 dollars, the fuel prices in the Romanian stations will reach the psychological step of 5 lei per liter. The international quotations registerd a baril price of 120 dollars, and a 10% raise on the global market will cause a 5% raise of the pump price in Romania, according to national oil specialists.
The fears of the unstoppable oil price raise are motivated by the fact that the intern production doesn't cover the country's consumption rate, and the evolution of Romanian prices depends on the international quotations. Besides Petrom, all active companies on the market are importing oil for their stations.
"The raises should not explode after Easter in the national stations because the dollar is cheap, and the Europeans buy oil with a stronger currency", said Andrew Costin, president of the Oilers Club. He thinks that the baril price is mentained at a high level by the three countries rival to the US: Venezuela, Russia and Iran.
Dinu Patriciu estimated that the baril price will reach 150 dollars, while in last year's autumn was of 80 dollars, and in December 1998 was of only 10 dollars. So, the price for "the black gold" is 900% larger than 10 years ago. Diesel fuel prices are growing more rapidly, and it will probably be the first to reach the 5 lei for a liter step. The phenomenon is generated by the raise of the tax on diesel and by the deficite on the European market.
Oil and records
Oil price raised, Tuesday, at the New York Stock Market, with two dollars, to a new historic high of 120 dollars per baril, in the context of the increasing demand in China, the world's second consumer, after the US. Other factors that led to this quotation are the fears regarding deliveries from Russia and Nigeria, as the weakening of the dollar on the background of the US real estate crisis.