Moldovan energy regulatory agency says has limited capacities to intervene in forming prices for oil products

Chisinau, 18 February /MOLDPRES/ - The present legislation limits the capacity of the National Energy Regulatory Agency (ANRE) to intervene with other instruments in the mechanism of forming prices for the oil products. A press release by ANRE, made public today, contains facts to this effect. The communiqué was issued ‘’given the latest developments of the prices for oil products and to avoid groundless speculations or interpretations.

Following amendments made to the law on oil products in November 2018, the parliament cancelled the mechanism of capping the prices and returned to the way of capping the profitableness of the activity of oil products’ sale on the domestic market.  

„Thus, under ANRE’s decision, the maximal rate of profitableness for the annual activity of oil products’ commercialization is of 10 per cent of the annual consumptions and expenses related to this activity, excepting the expenses ‘’which do not refer to the activity of import and/or sale of oil products,’’ ANRE said.  

ANRE carried out controls of the holders of licence who work on the oil products market and strictly monitors the observance by retail sellers of the methodology of the forming and application of prices for the concerned products, which is based on the national standards of accounting applicable.   

At the same time, ANRE analyzes the comparative dynamic of the developments in the concerned sector both on the domestic market and on the regional one. ‘’Following the continuous analyses carried out, an ascendant dynamic of the prices for oil and oil products in the world is noticed, which might further affect the selling prices of the concerned products on the domestic market,’’ ANRE said.    

"In the specific situation emerged, the way of capping the prices for oil products according to the Platts quotations would represent a transparent instrument of exact correlation of prices on the panels of the fuel supply stations with the developments recorded at international exchanges, providing a predictability of the prices’ fluctuation,’’ the National Energy Regulatory Agency noted.  

ANRE’s reaction comes as a result of the latest increases in prices for fuels. According to the prices posted by Moldovan fuel supply stations, one litre of standard 95 petrol costs 18.25 lei, up by an average of 0.60 lei. The diesel oil’s price grew by 0.50 lei and presently costs 15.55 lei. The price of the liquid gas increased by 0.65 lei.

This is the fourth increases in fuels’ prices in the last two months. Thus, on this period, the petrol’s price has increased by almost 3 lei for one litre (19.5 per cent) and the diesel oil’s price – by 2.5 lei (19.2 per cent).     

photo: anre.md