Romania gazetted Law No. 162/2026 establishing a solidarity contribution on crude oil extraction and refining revenues that applies from 7 August 2026 through 31 October 2026 (extendable by Government Decision) when Brent crude exceeds USD 70 per barrel or Platts diesel exceeds USD 630 per metric tonne, combined with a variable 5–25% reduction in diesel excise duties.
Romania has gazetted Law No. 162/2026 on 4 August 2026.
Law No. 162/2026 aims to manage a crisis state within the domestic oil and petroleum product markets. The law introduces strict commercial margin limits for fuel distributors and establishes a solidarity contribution targeting extraordinary revenues from crude oil extraction and refining. To alleviate the financial burden on citizens and the economy, it implements a variable tax reduction mechanism for diesel excise duties based on market price fluctuations.
Law no. 162/2026 introduces a temporary crisis on the Romanian crude oil and petroleum products market, initially active from 7 August 2026 until 31 October 2026 inclusive. The government is empowered to extend this period successively through Government Decisions for blocks of up to 3 months at a time if the crisis conditions persist.
Alongside the solidarity contribution, the law institutes a temporary mechanism to reduce excise duties on standard diesel by 5% to 25%. This reduction is analysed bi-monthly by the Ministry of Finance and applies only if specific market fluctuation criteria are met.
Market price triggers
The windfall tax does not apply continuously; it is only triggered for calendar months in which at least one of the following average monthly thresholds is exceeded:
- Brent crude oil: The average monthly price of Brent crude exceeds 70 USD per barrel (calculated as the arithmetic average of daily closing quotes).
- Platts diesel: The average monthly Platts price for diesel exceeds 630 USD per metric tonne. The official source for these diesel quotes is S&P Global Commodity Insights (specifically, the Platts CIF Med Genova/Lavera ULSD 10 ppm daily close).
For the first (August 2026) and final months of the law’s application, the contribution is calculated proportionally based on the exact number of active days in that month.
Calculation methodologies
For unrefined crude oil sales
Romania imposes a 60% excise tax on domestically produced crude oil sales. The tax applies only to the difference between the actual selling price and a USD 70 per barrel threshold. Operators calculate the monthly liability by multiplying the volume of own-production crude sold (in barrels) by this price differential, then convert the resulting USD amount to Romanian Lei (RON) using the official exchange rate from the last day of the month.
For refined oil products
For entities processing their Romanian-extracted crude oil (directly or via affiliates), the contribution is calculated by applying a progressive monthly rate to their taxable monthly revenue (VS).
Determining the progressive tax rate
The monthly rate applied to taxable monthly revenue is determined by taking the maximum rate applicable under two separate progressive grids (Brent price and Platts diesel price). If only the Platts diesel price triggers the tax, the rate is drawn solely from the Platts grid. The rates scale as follows:
- Starting Rate: 1.5% if Brent is between USD 70.01–80.00 per barrel or Platts diesel is between USD 630.01–710.00 per metric tonne.
- Top Rate: 11.9% if Brent exceeds USD 160 per barrel or Platts diesel exceeds USD 1,310 per metric tonne.
