Moldovan official journal roundup for 3 August

12:06 | 02.08.2018 Category: Economic

Chisinau, 2 August /MOLDPRES/- The Law amending the Law on oil market, which stipulates that the ceiling retail prices of petroleum products will be set by the National Agency for Energy Regulation (ANRE) every three months, will be published in the Official Journal of Moldova on 3 August.

Under the law, prices will be set according to the average Platts quotations from the previous period. Thus, ANRE will have the right to adjust the ceiling prices over the 3-month period if the Platts average price difference is higher than 10%, resulting in a lower price cap. At the same time, in the case of a difference of more than 10% of the average Platts quotations leading to the price increase, ANRE will be able to adjust the ceiling prices at the request of the petroleum products retailers.

The retail sale of the main petroleum products at a price exceeding the ceiling price established by ANRE will be prohibited.

Within 3 months upon its publication in the Official Journal, ANRE will have to bring the Methodology for the formation and application of petroleum products prices in line with the new legal provisions.

Currently, ANRE sets ceiling prices of oil products every two weeks.

(Reporter N. Sandu, editor M. Jantovan)

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