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Published 16 SEPT How fuel prices are set in Romania, Europe and the world, why they are rising now, and what follows the wars The pump price has three layers: the international product quotation in dollars, excise set in lei per litre, and VAT charged on top of both. Because excise is a fixed amount, a quotation that rises by half lifts the pump price by less, as the Ministry of Finance's own September 2026 figures show. For a related reason, the end of a war does not bring back the old price on its own: damaged refineries and pipelines take quarters, sometimes years, to repair. MACRO RULES BUDGET