Romania's biggest problem at the moment is fuel management, mainly diesel, given that 80% of the demand comes from imports, with traders in international markets fighting over stocks, while our politicians analyze scenarios, economist Adrian Negrescu pointed out in a Facebook post.
"Romania's big problem at the moment is fuel management, mainly diesel, given that 80% of the need comes from imports. While politicians are analyzing scenarios, in international markets traders have ended up fighting over stocks. What we estimated at the beginning of this crisis is happening, when the Minister of Energy was assuring us that we would not be affected, because we were bringing oil from outside the conflict zone. We were warning then that all delivery contracts might be put in question as international stocks run out. Asia has already started to 'suck' everything currently available from the market at dumping prices," Negrescu noted.
According to him, a diesel import problem would mean for Romania from huge supply problems in grocery stores (the disappearance of thousands of products from the shelves) to the cascading closure of companies that produce and need parts, subassemblies, transportation, etc.
"The situation is serious, and the prospects do not look good at all. It is exasperating to see politicians who campaign all day long for tax cuts (excise and VAT), in conditions in which this decision no longer brings a significant impact at the pump. What does a 30 bani reduction in excise duty mean at a diesel price that will exceed 13 lei in the coming period? Even if we cut a leu, 2 lei from excise duty, from VAT, the situation will not be better as long as oil/diesel prices are rising internationally at the highest rate since the crisis of the 1970s. Instead of seeing Minister Ivan with his scenarios without any impact study, without substance, I would like to see him concretely present to us the situation of stocks, the measures he has taken to secure imports, decisions to restrict consumption state institutions to alleviate the burden generated by this crisis," the economist said.
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