Fuel prices in Moldova are rising as a result of global oil price increases triggered by escalating tensions between Israel and Iran, the National Energy Regulatory Agency (NERA) announced.
Gasoline will increase by six bani on Tuesday. For June 17, the NERA set the maximum price for one liter of COR 95 gasoline at 22.96 lei. Standard diesel will cost up to 18.85 lei per liter—13 bani more than on Monday.
The NERA mentioned that global market trends are crucial because Moldova relies entirely on imported petroleum products.
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Brent crude oil—the European market benchmark—experienced a sharp rise, peaking at $78 per barrel before stabilizing at $74, marking a 7% increase and reaching its highest level since January this year.
Meanwhile, Platts quotations soared in a single day, with diesel prices jumping by $40 per ton and gasoline by $24 due to fears that the Strait of Hormuz—through which about 20% of global oil supply passes—could be blocked.
Iran, one of the world’s largest oil exporters, currently produces around 3.3 million barrels a day, with over 2 million destined for export.
Experts cited by S&P Global Commodity Insights warned that OPEC and its allies, including Russia, lack sufficient reserves to offset potential major supply disruptions.
The NERA pledged to keep monitoring global markets and applying fair, transparent pricing.