Sales of oil products last year went up by over 17%, driven by the 16% growth of the domestic car market and the increased transportation activity in the region.
The upward trend is expected to continue this year, amid the tightening of commercial ties at a regional level in the wake of EU integration.
"Sales on the Romanian fuel market total around 3.5 billion litres," stated representatives of Petrom, the largest Romanian oil company, now held by the OMV Austrian oil group.
As a result, against an average price of 3 RON per litre of fuel, oil product retail generated 3 billion euros last year alone, not including the money derived from production or from refineries by the companies involved in such business.
"In 2006, average sales per filling station stood at 2.4 million litres, up 17% year on year," Petrom representatives added.
Rising international oil quotes helped drive sales volumes up.
"Last year, the Romanian economy witnessed an overall positive trend.
"According to statistical data, foreign investments soared by 75%, the retail segment saw a 24% increase, while car sales increased 20%. The fuel market posted a 17.4% growth rate," say representatives of MOL, which controls MOL Romania.
"As regards fuel sales, the upward trend is estimated to continue this year as well, as the tightening of commercial ties between countries in the region will implicitly lead to rising transportation needs.
"In addition, the population has a stronger purchasing power with many families now having the opportunity of buying a car," MOL representatives added.
Rompetrol, the oil group led by businessman Dinu Patriciu, last year generated gross revenues worth 1 billion euros from distribution, up 25% against 2005. Operationally, the volumes sold by the company, both on the wholesale and the retail segments, went beyond 1 million tonnes of fuel. However, it was retail that experienced the most spectacular increase, with Rompetrol selling 42% more fuel through its filling stations.
Overall last year, the domestic oil market hit an estimated value of 9 billion euros if cumulating the revenues of the main players, 18% higher than in 2005, with the growth mainly triggered by the rising international oil quotes.
The main trends emerging this year include the strong growth in demand for diesel oil.
One of the main changes Romania's EU integration has brought about is that all operators' have been forced to switch to the Euro 4 or Euro 5 ranges of fuel.
This has created a new trend: the branding of oil products.
Another change that will be witnessed on the domestic oil market is the steep reduction in the number of privately owned filling stations.
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