ING : Evolutions of Syria could increase oil price in Romania

‘One of the recent effects of evolution in the Middle East was the increase by 50% of the price of oil over the last two days, with possible implications on the price of oil in Romania. According to our estimates, the alterations of oil price at global level is obvious in 50% in the price of oil at the filling station, and an automated adjustment against the recent evolution of the oil price would lead to increase by 2.5% of the oil price –from approximately 6 RON per litre now to about 6.15 RON per litre, ‘ shows a notice sent by the ING bank economists on Wednesday.

With the fuel being almost 8% of the consumption basket, an increasing pressure on the market could have a potential impact on inflation, they say.

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