The MPs gave a first reading to a bill that stipulates the method of capping fuel prices based on the methodology for calculating and applying the prices of oil products. The methodology is to be worked out, approved and supervised by the National Agency for Energy Regulation based on the Platt`s international quotations, IPN reports.

Bill author Alexandru Oleinic said the analysis of the situation on the domestic market, including the evolution of prices compared with the fluctuation of prices on international markets and the behavior of oil companies, shows that the normative framework in the field should be fundamentally reviewed. The fuel prices in Moldova have always generated dissatisfaction in society. During the past two months, the prices of oil products have been raised for five times.

According to the MP, the implementation of this law will ensure competition, will set down clear rules of activity on the national oil products market and will prevent companies from promoting cartel agreements to the detriment of the people and the national economy.

The bill is to be given a second reading.