Petrol prices at petrol stations change at the same rate as Platts international petrol and diesel quotes, but with a difference of several days, the Competition Council says, following research that re-analyses how changes in quotations are passed on to prices at petrol stations .
- SEE THE ANALYSIS OF THE COMPETITION COUNCIL HERE
The analysis, based on data from July 2019 to June 2022, confirmed previous observations (period 2016 – 2018), namely that prices in Romania follow both the rise and fall of international quotations, reports the authority.
A Platts quote is an international reference price in the gasoline or diesel market that reflects the value reflected by demand, supply and transactions between traders in the wholesale fuel market. Platts quotes are not public data and over the long term tend to follow the same trend as the price of a barrel of oil.
Therefore, when Platts international quotes for gasoline and diesel fuel increase, fuel prices in Romania also increase, and when quotes decrease, their price at gas stations decreases.
Most price adjustments at the pump occur during the week, both on the rise and fall of the international Platts benchmark.
Asymmetric transmission of changes in Platts quotes in fuel prices would be a sign of unfair market behavior.
The analysis was performed for both fuels, standard gasoline and standard diesel, using weekly average values provided by the following fuel suppliers: Mol, OMV, Petrom, Rompetrol, Gazprom, Socar.
Source: Hot News RO
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