The fuel price ceilings could be set by the National Agency for Energy Regulation (NAER) quarterly, not once every two weeks as now. The proposal is stipulated in a bill that was introduced into Parliament by unaffiliated MP Vladimir Cernat, IPN reports.

Under the legislative initiative, the retail prices of the main imported oil products, in relation to the average Platts quotes, will be set by takin into account the category and quality of the main oil products by using multiplying coefficients for each type of product, as it is provided in the fuel prices formation and application methodology. Quarterly, depending on the Platts quotes for the previous period, the NAER will set the retail prices of the main oil products and will publish them on its website.

The author said that as a result, if the Platts quotes rise constantly, the quarterly setting of the fuel price ceilings, not biweekly as now, will help reduce the social impact.

It is suggested that the NAER should have the right to adjust the price ceilings during a quarter only if the deviations in the average Platts quotes compared with the average currency exchange rate set by the National Bank of Moldova exceed 10%.

The author said the necessity of such changes and amendments derives from the high negative social impact determined by the latest NAER’s administrative acts in setting the fuel price ceilings, which led to mass protests. The Agency’s acts were ultimately challenged in court in the interests of consumers, invoking non-transparency in the process of forming and capping the prices of oil products.

The NAER repeatedly announced higher fuel price ceilings, its last three decisions being yet suspended, first at the request of the Prime Minister and then by court order following a lawsuit filed by the Ministry of Economy and Infrastructure.