Oil prices plunge 14% but Moldovan pumps await relief
Moldova’s energy regulator (ANRE) announced a price hike for fuel effective April 9, despite a significant 14% drop in global Brent crude prices following a US-Iran truce.
Diesel will increase by 0.79 MDL to reach €1.78 (34.98 MDL) per liter. Meanwhile, gasoline prices will rise by 0.13 MDL, bringing the cost to €1.52 (29.82 MDL).
The National Agency for Energy Regulation explained that current price caps reflect international trading averages from the past seven days. The recent market crash triggered by the reopening of the Strait of Hormuz has not yet factored into the local price algorithm.
Technical lag and market timing
According to ANRE, the London Stock Exchange had already closed when news of the two-week truce broke. Consequently, current calculations remain anchored to the high-volatility sessions recorded earlier this week and the increased demand surrounding the European Easter holidays.
Energy Minister Dorin Junghietu clarified that the 14% reduction in Brent prices—now averaging $94 per barrel—will take time to reach consumers. He noted that refineries must first deplete high-cost inventories purchased before the diplomatic breakthrough.
Supply security and regional flows
“If crude prices remain below $100, we should see relief at the pump within one to two weeks,” Junghietu stated following a government meeting on April 8.
The Ministry assured the public that Moldova’s energy security remains stable. Consistent imports from Turkey, Egypt, and Bulgaria are currently meeting the heightened demand of the agricultural season and upcoming holidays.
Translation by Iurie Tataru
