Fuel prices will return shortly, as the market calms down, and the effect of the sanctions on the companies Lukoil and Rosneft will not generate major disruptions, said Bogdan Chirițoiu, the president of the Competition Council, on Friday, during the conference “Evolution of competition in key sectors under the impact of energy transition and digitization”.
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“We have indeed seen wholesale prices rise in Europe recently, probably as a result of the introduction of sanctions, which created some unease in the market. At the same time, the barrel of oil has not increased, and the price of the raw material ultimately determines the price of fuels. Therefore, I expect prices to recover very soon. As long as the price of oil remains in the $60-$65 area, there is no reason for gasoline and diesel prices to rise. If the market will calm down, it will be seen that the effect of sanctions does not create major disturbances“, Chirițoiu explained.
The head of the competition authority also emphasized that the Romanian state will intervene to maintain the normal functioning of the economic operations affected by the sanctions.
“The Ministry of Transport has announced that it is preparing legislative measures to be able to intervene if necessary. Lukoil also has refineries in other countries, including Bulgaria, and we will try to ensure economic operation so that disruptions are minimal. The Lukoil refinery in Romania is currently closed for maintenance, so the direct impact is reduced. I am convinced that in the medium term the market will be stable and solutions will be found for all these situations”said Bogdan Chirițoiu.
Regarding the possible sale of Lukoil or Carrefour assets, the head of the Council explained that, to date, no official notifications have been received.
“We have not received notifications at Lukoil, nor at Carrefour. If the sale is decided, the company that accepts the offer will have to notify us. Depending on the nature of the transaction, it can be analyzed at the national or European level. For example, if Lukoil's assets are sold separately in Romania and Bulgaria, the approval can be national, and if it is all assets, then it is up to the European Commission. At the moment, there is no notification“, Chirițoiu added.
