Economy

Fuel prices in Romania decrease then increase in 48 hours

President of Romania Klaus Iohannis announced a new law on the 30th of December that erased an additional tax on fuel. But the good news was short-lived, as two days later, on the 1st of January the general excise tax of petrol and gas oil increased in accordance to a rolling formula.

As the new law, announced by the president, entered into force, the tax per liter on petrol decreased from RON 2.038 to RON 1.656 (from 43 euro cents to 35), while that on gas oil went from RON 1.895 to RON 1.518 (from 40 euro cents to 32).

But one day later, on December 31, according to tax law regulations, the ministry of finance adjusted the level of the excise tax for last year’s inflation rate. This meant that from January 1, the excise tax of unleaded petrol would be RON 1.773 (37 euro cents) and the tax on gas oil would be RON 1.625 (34 euro cents).

According to the calculations of the g4media.ro portal, thanks to the erasure of the additional tax, fuel prices (per liter) decreased by RON 0.45 (9.5 euro cents) on average. But following the excise tax adjustment, the decrease, compared to December 30, is in fact only RON 0.32 (6.5 euro cents).

In daily-life language, this means that a full tank on average is cheaper than last year by RON 20 (EUR 4.2).

 

Title image: picjumbo.com

Author: Attila Szoó