Amendments to the Law on the Petroleum Products Market were adopted today, August 24, in second reading. The National Agency for Energy Regulation (ANRE) will set the maximum retail prices for main standard petroleum products every working day and will publish them on its website.

According to the bill, it is prohibited to set the retail price of standard-type main petroleum products above the maximum caps set by ANRE.

Additionally, the amendment to the Law on the Petroleum Products Market provides for a five-fold decrease in the mandatory storage capacity an importer is required to meet, from 5000 m3 to 1000 m3.

Another provision of the bill eliminates the need to hold at least eight million lei of equity capital, as this minimum amount creates barriers and prevents the emergence of new economic operators, according to the bill’s authors.

The amendments will enter into force on the date of publication in Moldova's Official Gazette. ANRE will comply with the law within 30 working days of its entry into force.