The levy is intended to establish and maintain emergency reserves of petroleum products. The funds are to be used in the event of supply disruptions, regional crises, and other emergencies that could lead to fuel shortages.
As a result, the existing margin on petroleum products will increase to 4.30 lei per liter of gasoline, up from the current 3.82 lei, and to 4.32 lei per liter of diesel fuel, up from the current 3.84 lei.
This is a fixed surcharge; it will not be reviewed every six months along with the other components of the commercial margin.
Nothing personal—just robbery
This is an almost unprecedented case in Moldova’s history. In effect, the state will build up fuel reserves at the expense of its citizens, while the citizens themselves will have no claim to them.
It’s worth noting that state natural gas reserves are created using credit or budgetary funds. Now it turns out that if the experiment with petroleum products is deemed successful, the state may extend it to gas next season—why not? They’ll add the money to the tariff, and Energocom will find a way to use it.
A similar example is the 0.1% tax on foreign currency purchases, which was introduced during the presidency of Petre Lucinschi. This money goes directly into the state budget of the Republic of Moldova, but no one is able to explain why it is collected. The same goes for the additional fuel surcharge.
Economic Impact
It is easy to calculate. An increase in fuel prices automatically leads to a rise in all prices in the economy and, consequently, to higher inflation and a decline in the quality of life for all Moldovan residents without exception—not just private drivers, farmers, and owners of transportation companies.
A blunt question
It’s just not very clear where the government plans to store its strategic reserves of petroleum products. The oil storage facilities that were once owned by the state have long since been plundered, privatized, or destroyed. And we’re talking about thousands of metric tons of gasoline, diesel fuel, and fuel oil. By 2034, the reserves are supposed to reach a volume equivalent to at least 61 days of domestic consumption or 90 days of imports.
To sum up, we have now entered a new era in which the state has begun directly taking money from its citizens.
