The legislative body will examine a new mechanism for forming the prices of oil products and will adopt a series of relevant changes to the Law on the Oil Products Market, IPN reports.

The new mechanism was discussed in the July 27 meeting of the Parliament’s commission on economy, budget and finance. This envisions that the calculations set based on commercial invoices and on the profit of 10% will be eliminated as these enable to manipulate the prices when the cost of oil products decreases.

“To diminish the prices of oil products, a solution is to reduce the excise duties and taxes. We will discuss this possibility with the Government, especially he Ministry of Finance, to see if this mechanism has financial coverage. The direct subsidization by areas is the second solution,” said the commission’s head Stefan Creanga.

Dissatisfied with the rises in fuel prices, the drivers, mobilized through social networking sites, mounted a number of protests in central Chisinau. The National Agency for Energy Regulation set new fuel price ceilings for June 27 – July 10. A liter of gasoline ‘95’ in the period will cost at most 19.10 lei, down 0.05 lei, while a liter of diesel fuel – at most 17 lei, down 0.09 lei.