The situation at the pump is one of more and more complicated for Romanians. The price of fuel has exceeded 7 lei in many corners of Romania, and the future is very bleak in terms of purchase values this winter.
If you think someone is growing arbitrarily the price of petrol and diesel, but the reality is significantly more complicated. Given that we are talking about derivatives, their purchase value is anchored in the price of oil and, unfortunately, the latter has increased by about 4% in the last week alone.
Today it happened to the oil, tomorrow it will be seen at the pump
At the end of the trading week, oil WTI has peaked in the last seven years. In just seven days, unfortunately, it registered an advance of about 4%, in the context in which the demand came to exceed the supply. Large crude oil consumers have faced significant difficulties in meeting market demands, according to Reuters.
Although we will inevitably see price increases, they should not be so high. Even if the economic activities have recovered quite a bit in various corners of the world that have almost finished the “account” of the pandemic, it is important to remember the OPEC + decision. The oil authority agreed last week to maintain an agreement that provides for the phasing out of production restrictions, rather than speeding up the process.
On the other side of the ocean, the US government said it was monitoring energy markets, but did not announce an immediate measure to reduce prices, such as the release of oil from strategic reserves.
In clear figures, the price of oil rose 0.5% on Friday to $ 82.39 a barrel. This value was reached after, during the week, Brent oil reached the highest level in the last three years, of $ 83.47 per barrel. At the same time, the price of West Texas Intermediate (WTI) oil, a reference on the American market, was equally important. The latter rose 1.3% to $ 79.35 a barrel, the highest level since October 2014.
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