Romania recorded the steepest drop in the European Union in the retail price of gasoline from mid-2014 until July this year, namely 23.7%.

The retail price of diesel fuel dropped by 23.48%, the third steepest cheapening in the EU during this period, according to a report of the Competition Council.

The average pump price for a liter of gasoline in Romania amounted to EUR 1.1 in early July this year, compared to EUR 1.4 on June 30 2014.

The second and third steepest drops in the EU after Romania were recorded in Poland (23.15%) and Bulgaria (22.49%). In contrast, the lowest decreases were registered in Portugal (11.99%) and Malta (11.11%).

However, according to the Competition Council, Romania has some of the highest fuel prices before taxes in the EU. The Competition Council has come up with the idea of creating a database and a web or mobile application for comparing fuel prices to help increase competition on this market.

editor@romania-insider.com