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Calculating the price of hydrocarbons, the Board refers to "S & P Global Platts", based in London

Calculating the price of hydrocarbons, the Board refers to "S & P

The numerous fluctuations in the prices of goods on international exchanges, especially of fuel, after the start of the Russia-Ukraine war, had direct effects on our domestic market as well, according to an official customs announcement.

The Government responded to the numerous abuses in this market, as well as the public's demand for its control, by setting up the Transparency Board, where representatives of the main companies that import hydrocarbon products are also part of the state institutions.
For months now, the price of fuel has been set by the Transparency Board, which since its creation has strictly adhered to the decisions made by the Plats of the Mediterranean exchange for diesel, gasoline, as well as the official invoices of the operators.

The General Directorate of Customs, through an announcement, clarifies the manner of Customs Valuation of Hydrocarbons.
According to this announcement, the Customs Legislation (Customs Code, its Implementing Provisions) as well as specifically the Instruction of the Minister of Finance and Economy no. 3 dated
23.01.2018, clearly define the procedures and methodologies for the evaluation of goods for customs purposes.
"One of the ways of customs evaluation of goods is the method based on
the "Available Data File" which also includes updates of hydrocarbons.
Resource for updating hydrocarbon products, General Directorate of

Customs uses the closing daily (working day) data, published by one
of the most reputable international agencies, "S & P Global Platts",
based in London, with which this directorate has been cooperating for 15 years," states the official announcement at DPD.
Customs emphasizes the fact that for articles such as:
gasoline, diesel, fuel oil, solar, kerosene, jet, liquid gas (butane, propane), biodiesel uses the daily closing data of S&P Global Platts.
With these data, the customs structures are informed every day, it is clarified in the announcement of the DPD.
Earlier it was clarified by the Board, as well as experts from the Hydrocarbons Association, that the Transparency Board does not set the prices of crude oil, but of diesel, gasoline and liquid gas according to the standards defined in the Normative Act, according to which, this Board it only sets maximum gross margins for wholesale and retail, with which operators must cover all operating expenses.
In relation to this, sales operators are free to trade below the price level set by the Board.
Therefore, the decisions taken by the Board and the change in sales prices are only related to changes in the Mediterranean Platz exchange for gasoil and gasoline, and not to the crude oil exchange, as well as to the movement of the dollar exchange rate.
All other elements that form the price are fixed and the Board does not take a decision on these./Monitor

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