New measures as part of an emergency ordinance came into effect on Wednesday in Romania as the country tries to mitigate rising oil prices due to Middle East tensions.
The emergency ordinance adopted by the government last week allows authorities to intervene in the market by declaring a crisis situation until June 30, 2026, according to Radio Romania.
It also enables capping commercial markups across the fuel distribution chain when necessary.
Starting Wednesday until June 30, fuel producers, importers, distributors, and sellers must reportedly apply a commercial markup based on last year’s average, a measure aimed at curbing speculative price hikes.
The emergency ordinance also imposes fines for violations, lowers biofuel in gasoline from 8% to 2%, and restricts diesel and crude oil exports without government approval.
Meanwhile, the government is preparing a second package of measures to ease fuel price hikes, with a cut in diesel excise duties seen as the most effective option.
The Strait of Hormuz, through which roughly 20 million barrels of oil pass daily, has been effectively disrupted since early March, driving up global oil prices and raising fears of prolonged economic damage.
The US and Israel have struck Iran since Feb. 28, killing more than 1,340 people, including then-Supreme Leader Ali Khamenei. Iran has retaliated with strikes across the region, causing casualties and infrastructure damage.
By Ilayda Cakirtekin
Anadolu Agency
energy@aa.com.tr
