Oil prices surged about 5% in the past two days and, according to ING estimations, global changes feed about half of local pump price movements.
“An automatic adjustment to the latest price action would translate into a 2.5% increase of fuel prices in Romania, to around 6.15 lei (EUR1.384) a liter, from the current price of about RON6 a liter,” ING said in a report.
With fuel weighing about 8% in the consumer basket, more pressure in the energy markets could have a dramatic impact on inflation, the report noted.
The prospect of a military action by the U.S. and its allies in response to an alleged attack with chemical weapons by the Syrian government has traders on the edge.
International oil prices rose to their highest level in two years Wednesday morning, amid concerns that the Syrian conflict could affect production and exports.