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Industry revenue of »retail sale of automotive fuel in specialised stores« in Romania 2011-2023

Revenues from the retail sale of automotive fuel in specialised stores in Romania are forecast to only witness tepid growth between 2011-2023. Amongst key reasons are the rising prices of fuels such as diesel and gasoline, which have affected demand. Between Jan 2016-Jan 2019, diesel prices grew over 35 percent, whilst peaking at a near all-time high in October 2018, at 114 British pence per liter. Additionally, electric and hybrid vehicles are gaining rapid popularity in the country, owing to a strong government backing. In fact, electric cars witnessed a 65 percent year-over-year growth in 2018, with over 4,500 units being sold. Experts believe that the electric car fleet could exceed 300,000 units by 2030, with over 25,000 charging points across the country, as the government focuses extensively on electro-mobility.

Covid-19 outbreak to further impact sales

Leading Romanian oil and gas company, OMV Petrom, has witnessed a 43 percent decline in year-over-year sales in Q1 2020, as the outbreak of the corona virus has resulted in an unfavorable market environment. Fuel sales in gas stations have dropped nearly 30 percent, owing to movement restrictions. The company is currently forecasting a 20 percent drop in revenues for 2020.

Industry revenue of »retail sale of automotive fuel in specialised stores« in Romania from 2011 to 2023

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.186

The industry classification is based on the NACE Rev.2 - system in Romania. The industry “retail sale of automotive fuel in specialised stores“ has the code “G473“.

Details on the methodology can be found here.

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