Concerns about the price of fuel
The war in the Middle East has led to a rise in fuel prices, and the further the situation complicates, the stronger the impact will be felt.
Corina Cristea, 09.03.2026, 14:00
The Middle East, one of the world’s leading oil producing regions, plays a major role in establishing the balance between supply and demand on the global oil market, and a conflict in the area triggers snowball effects. This is precisely what is happening right now, as the war launched by the US and Israel against Iran has extended to other countries in the region and caused a crisis in the Strait of Hormuz, through which 20% of the world’s oil passes. Against this backdrop, both Brent oil extracted from the North Sea and the crude oil extracted from the United States passed 90 dollars per barrel last week, after an unprecedented steep rise.
Romania is not completely dependent on oil imports, but its fuel market is strongly connected to international developments. “Starting last year, in October, we began, together with all companies in Romania, to create alternative fuel supply routes, without knowing that this event would follow,” said Romanian energy minister Bogdan Ivan. This, he explains, has given Romania the flexibility to ensure stocks for at least five months from now, to ensure alternative routes, and at the moment, under 7% of Romania’s consumption in terms of imports, refined oil, is supplied through the Strait of Hormuz. “Thanks to the measures we have taken in the government”, the minister said, “at the moment, Romania, despite seeing an increase in the cost of fuels, has one of the lowest increases among EU member states”.
The increase has especially affected the price of diesel, which has gone up by 50 bani per liter in a week. Half of the final price at the pump is represented by taxes collected by the state, excise duty and VAT, and Minister Bogdan Ivan said that the government is considering a possible reduction of these taxes to avoid prices reaching 10 lei per liter. Bogdan Ivan:
“We are prepared for any type of intervention in the best interest of Romanians and we are considering, at least temporarily, until things get stabilised in the Strait of Hormuz and in the Middle East, to take specific action to reduce this negative effect. It is extremely important for us for the price not to go into double digits.”
Last week saw the adoption of a piece of legislation on the protection of domestic users of natural gas, under which a price cap for domestic users is maintained for another year. “We have learned from the lessons of the past and we are doing everything in our power to keep prices as low as possible. We have enough fuel,” says Bogdan Ivan.
Romanians are not, however, completely protected, as the increase in fuel prices has knock-on effects. Once transportation becomes more expensive, prices for a wide range of products will increase, from food to industrial goods. In an economy already struggling with high inflation and uncertainty, new pressure on costs could complicate efforts to stabilise the economy.
