Fuel consumption in Romania is expected to increase by around 7% in 2008 when compared to 2007, due to rising car ownership and overall retail expansion, reported Petrol World.
It is claimed that the 7% increase could amount to a E450 million difference in monetary terms. The Romanian market is also experiencing a surge in diesel usage and rising demand has also pushed the price of diesel higher than petrol, according to Petrol World.
Petrol World said that petrol consumption in Romania stands at 1.6 million tons while diesel consumption is 3.4 million tons, considering both retail and wholesale volumes. The increasing demand for petroleum products is reportedly attracting the interest of fuel retailers.
According to reports, Romania’s major retailers have announced plans to expand their fuel station networks. Local firm Rompetrol is seeking to triple its network by late 2009, from the current 350 service stations. Russian oil major Lukoil plans to add another 50 to 60 stations to its current network of 300.
Italian energy giant Eni’s retail chain, Agip, intends to double its market share from its current 26 outlets. At the same time Hungarian retailer MOL plans to increase its market share to 15% from the current 4%.