Romania ranks third in the European Union as a crude oil producer after Italy and Denmark, with about 3 million tonnes in 2024. Nevertheless, the advantage has not translated into lower pump prices. Analysis by the Smart Energy Association points out that fuel prices are driven more by market quotations, refining and logistics costs and, crucially, by high taxes that account for over half of the final price. Crude extracted domestically enters an open market where it can be sold wherever the price is most favorable, and Romania can also import gasoline and diesel at European or southeastern European rates, keeping local prices close to the regional average.
Original article can be found here.