Energy Minister Bogdan Ivan said on Saturday in Bistrita that it is "extremely important" for Romania to prevent fuel prices from reaching double digits, which is why five scenarios are currently being developed to avoid such an outcome.
According to Ivan, reducing excise duties on diesel and gasoline is among the options being considered.
"We have at least five scenarios currently under development, including the one you mentioned (reducing excise duties on diesel and gasoline, Ed. note), all depending on the dynamics of the Middle East conflict. Unfortunately, the latest stock market quotations this morning show record levels for both Brent crude and diesel per tonne, record-high international prices (...) which obviously affect prices worldwide. (...) It is extremely important for us not to reach double-digit prices, this is extremely important, and at international level no one knows how long this conflict will last, or whether the strategy of the U.S. president will succeed regarding the Strait of Hormuz, because that is where the main blockages currently originate," Ivan said.
He added that one of the working scenarios considers targets transport operators and farmers, the groups most affected by rising fuel prices.
"At the same time, we are discussing another scenario at technical level, aimed only at certain professional categories. At present, those most affected by this increase are transport operators and farmers, and an intense agricultural season is approaching this spring, with overlapping activities. From an analytical standpoint, we are working on five scenarios. I will not present exact figures or details until they are clearly decided and substantiated. We are prepared for any type of intervention in the interest of Romanians, as we have shown this week. (...) You cannot impose a direct price cap. As a state, you have very clear legal levers regarding what you collect as revenue, and from this perspective we are considering - for a temporary period, until the situation stabilizes in the Hormuz Strait and the Middle East - targeted, specific measures to reduce this negative impact," the minister said.
The Energy minister stated that the decisions on the scenarios under review could be taken at the end of this week or the beginning of next week.
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