Moldovan energy regulator informs about significant decrease in ceiling prices for petrol, diesel

Chisinau, 20 February /MOLDPRES/ - The National Energy Regulatory Agency  (ANRE) today set a ceiling selling price for the most demanded Premium-95 petrol at 17.67 lei for one litre and for diesel at 15.58 lei for one litre for 21 February – 6 March, by 0.95 lei and, respectively, 0.90 lei less than for the previous period.    

This is the most significant cut for fuels’ prices in the last year, following the growths from the last two periods. The new prices for petrol and diesel will enter into force at midnight and will be in force as of 21 February till 6 March. Operators will have no right to commercialize fuels by retail at higher prices than the ones established by ANRE.    

The quotation of the Brent oil barrel dropped to 64.95 dollars per one barrel today at noon, after it had gone up to more than 70 dollars for one barrel in late last January. The lowest level in February was reached on 13 February, when the price was 62.80 dollars per one barrel.   

A strong correction of the oil price might be just the change of the market’s trend, which uninterruptedly increased during 18 months. The production capping, decided by OPEC two years ago and continued in 2017 and 2018, is no longer enough for the crude oil’s price to continue increasing, despite a sustained global demand, the webpage www.capital.ro reads. The abundance of crude oil on market, especially of the ever growing production from the USA, might decrease the crude oil price.     

The drop of early February, from 70.4 dollars per one barrel, in just several days, to 62.7 dollars, was triggered, according to international analysts, by the overlapping of more decisive factors. First of all, the decrease of the American exchanges triggered also a correction on the market of raw materials. Secondly, the dollar’s depreciation against the main currencies made the oil cheapen as well. Thirdly, and the most important thing, the USA exceeded the historical record of crude oil production, with the U.S. derricks pumping 10.25 million tons of barrels per day on 2 February, at a level which has not been reached since 1970, according to data by the United States Department of Energy. At present, the USA is the second biggest producer of crude oil in the world, after Russia. Moreover, forecasts show that, in late 2018, the Americans will pump about 11 million barrels per day and will thus rank first in the world according to the crude oil’s production.       

(Reporter V. Bercu, editor A. Raileanu)