Moldovan energy regulator sets higher ceiling prices for petrol, diesel against previous period

Chisinau, 12 June /MOLDPRES/ - The National Energy Regulatory Agency (ANRE) today established a ceiling selling price for the most demanded Premium-95 petrol at 19.49 lei for one litre and for diesel at 17.41 lei for 13-26 June. The reference price for petrol for the next two weeks is by 0.34 lei higher than the one set on 15 May and the diesel price increased by 0.32 lei.    

The new prices for petrol and diesel, set by ANRE today, will enter into force at midnight and will be in force starting from 13 June till 26 June. Operators will no longer have right to sell fuels by retail at higher prices than the ones established by ANRE.  

The National Energy Regulatory Agency has explained how the new prices. Thus, when setting the petrol price, 9.23 lei per one litre was taken into account according to the quotations, 3.76 lei for one litre is the share of the excise duty, 3.25 lei is the specific trade margin and 3.25 lei for one litre represents the value added tax (VAT). As for the diesel, decision-makers took into account 9.50 lei per one litre according to the quotations, 1.76 lei for one litre the share of the excise duty, 3.25 the specific trade margin and 2.90 lei for one litre the VAT.     

According to a press release by ANRE, in line with the law on oil products market, the ceiling selling retail prices for petrol and diesel are calculated based on the average recalculated Platts quotations in Moldovan lei, proceeding from the official average exchange rate set by the National Bank of Moldova against the US dollar for the last 14 calendar days.

On the concerned period, (29 May – 11 June), the average Platts quotations increased by 8.74 dollars for one ton of petrol (+1.23 per cent) and 6.74 dollars for one ton of diesel (+1.02 per cent).    

The average exchange rate of the national currency against the US dollar stood at 16.9016 lei for one dollar, up by 0.3118 lei (+1.88). Thus, most average Platts quotations, recalculated in Moldovan lei, stood at 0.34 lei per one litre of petrol and 0.32 lei for one litre of diesel, including VAT.  

The other components of the ceiling price, in the last two weeks, have remained unchanged; they are made up of the 20-per cent quota of value added tax, quota of excise duty of 3.76 lei/litre for petrol and 1.76 lei/litre for diesel, ANRE also said.    

According to the regulatory authority, the specific trade margin of 3.25 lei for one litre includes the premium of the refinery’s provider; costs for transportation and insuring oil products on the territory of other countries; taxes for carrying out the customs procedures and payment for the emissions of pollutants; spending for converting the currency. Also, the expenses for transportation, depositing and sale of oil products on the territory of Moldova, other justified and needed expenditures related to the activity of import and sale of principal oil products, profit of the activity of retail sale of oil products.     

On 29 May, ANRE announced a new increase in prices for fuels; yet, in two days, the Agency cancelled its own decision. On 1 June, Pavel Filip asked ANRE for explanations and proposed to cancel the last decision on increasing the tariffs. After the suspension of ANRE’s decision, drivers protested on the Great National Assembly Square against the increase in fuels’ prices.    

Following a meeting at the Economics and Infrastructure Ministry, decision-makers proposed to set up a working group and agreed that the representatives nominated by the protesters carry out their own calculations, based on data provided by ANRE and come up with concrete proposals on changing the methodology of the formation of prices for fuels.     

(Reporter V. Bercu, editor A. Raileanu)