Record fuel prices and gas warnings raise winter alert in Moldova
Diesel prices in Moldova surged past a historic 35 lei per liter on Wednesday, while authorities warned that another natural gas tariff increase is becoming likely ahead of winter.
Retail price caps released by the National Energy Regulatory Agency (ANRE) set the maximum diesel pump price for September 17 at €1.82 (approx. 35.53 MDL) per liter, up 0.38 MDL. Standard gasoline will rise by 0.21 MDL to €1.72 (approx. 33.56 MDL) per liter.
Although the day-to-day increase slowed slightly compared to earlier sessions, cumulative fuel inflation remains steep. Since Middle Eastern tensions escalated in February, gasoline prices have climbed by roughly 9.30 MDL per liter, while diesel has surged by nearly 14 MDL—a price spike of almost 65 percent in several months.
Middle East turmoil impacts global benchmarks
Regulators attributed the steady retail fuel increases to climbing international oil product benchmarks and currency movements. Global crude markets remain under heavy pressure, with Brent crude exceeding $107 per barrel.
The geopolitical bottleneck has simultaneously spilled over into regional gas hubs. European wholesale natural gas benchmarks recently crossed €83 per megawatt-hour, threatening to create fresh financial shortfalls for domestic utilities under existing retail rates.
Following a government cabinet meeting on September 16, Energy Minister Dorin Junghietu stated that domestic utility charges risk falling below actual import costs.
“The need for a gas tariff adjustment is becoming increasingly evident,” said Junghietu, noting that market dynamics will be reviewed closely at the beginning of October.
October review to assess accumulated deviations
Authorities are currently assessing utility procurement figures spanning August through October to calculate accumulated financial deviations. The regulator will use these final balances to determine whether an official tariff revision is mandatory.
Junghietu explained that maritime shipping disruptions in the Strait of Hormuz continue to restrict liquefied natural gas deliveries worldwide. Lower-than-average European storage levels have compounded upward price momentum across the continent.
The warning comes only weeks after domestic gas rates rose sharply. On August 21, the regulator approved an increase of nearly six lei per cubic meter, bringing the consumer tariff to €1.04 (approx. 20.30 MDL) per cubic meter starting September 1.
Translation by Iurie Tataru
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