Romania’s fuel consumption to rise by 7%

Feb 05, 2008 01:00 AM

Fuel products consumption is set to rise by around 7% this year compared to 2007 on rising car fleet and expansion plans announced by the main players. In financial terms, the difference from last year amounts to EUR 450 mm.
Another factor with a strong impact on the value of this market is last year’s petroleum price surge, which is expected to be really felt as late as this year. In terms of trends, market dieselisation, anticipated several years ago, is now a reality and now the higher diesel demand has also led to a higher price for this type of fuel compared to petrol.

Dan Rosu of Rompetrol says "The market advanced by 6.5% last year against 2006. In retail, fuel consumption amounts to 3.5 mm tons annually and accounts for around 65%-70% of the overall market. Market growth has accelerated in the past two years."
According to market players, petrol consumption stands at around 1.6 mm tons annually and diesel consumption stands at 3.4 mm tons, with the volumes representing both retail and wholesale consumption. Given these data, the petroleum product market last year reached EUR 6.3 bn and has the potential to get to around EUR 6.8 bn this year.

All key petrol retailer companies have announced plans to expand their service station networks. Rompetrol wants to triple its network by late 2009, from the current 350 service stations.
LUKoil wants another 50 to 60 stations to be added to the current 300, Agip with 26 service stations intends to double its market share while MOL, with its 121 stations, wants to boost its market share by 4% to 15%.

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