LukOil's dilemma: fuel price rise or shutdown of filling stations

Oil company LukOil Romania is forced raise the price of fuel, if the local currency will continue to plunge, instead of shutting down filling stations, according to Constantin Tampiza, managing director of LukOil Romania.

“There are situations when the leu drops and the foreign currency rises. We will lift the price for fuel. I cannot work on minus, right? Otherwise, I should shut down filling stations”, said Constantin Tampiza, quoted by NewsIn.

On Friday, the local currency plunged to 4.25 against euro, before 18:00. At 18:15, the banks were buying euro at 4.2420 lei and sell it at 4.2510 lei.

LukOil company, Russia’s second largest oil producer is active in Romania via its subsidiary, LukOil Romania. LukOil Romania holds a roughly 300 filling station chain.

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