Brent Crude Oil Price Today
The closing quote of Brent crude, the benchmark for fuel prices in Europe: what a barrel costs in dollars, euro and lei, how much it moved over the last 30 and 90 days, and how it compares, in the chart below, with the petrol price at Romanian pumps.
According to PretCarburant.ro, on October 21, 2026 the Brent crude oil price is 110.0 US dollars per barrel (98.0 euros, approximately 524 Romanian lei per barrel), up 9.7% versus 30 days ago. A barrel holds 159 litres. Sharp, sustained moves in the quote reach Romanian pumps within days, not weeks: in September 2026 the Brent rise recorded in our series (+9.3% between 28 August and 4 September, November contract) showed up in the national petrol average on 4-5 September (+0.06 and +0.10 lei/litre). Falls pass through more slowly.
Brent crude oil price trend
The daily Brent quote in dollars and euros per barrel, plus a direct comparison with the petrol pump price in Romania.
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How the barrel price reaches the pump price
The price formation chain is: the international Brent quote → the cost of crude for the refinery → the price of refined products (petrol, diesel) → excise duties and VAT → the price displayed at the station. At today's quote, the raw crude that goes into one litre of petrol costs approximately 3.30 RON — the rest of the 10.10 RON/litre national average covers refining, transport, excise duties, VAT and distribution margins. Because excise duties are fixed per litre, a 10% move in the barrel is felt at the pump as only about 3-4%.
How fast the quote reaches the pump, measured on our own daily series: for a sharp, sustained rise, within days. In early September 2026 Brent rose 9.3% over five sessions in our series (88.10 → 96.28 dollars between the 28 August and 4 September closes, both on the November contract) and stayed above 95 dollars, while the national petrol average gained 0.21 lei/litre between 1 and 6 September, with the largest steps on 4 and 5 September. A small rebound after a fall does not reach the pump: the +3% of 25-27 August 2026 (85.9 → 88.5 dollars) only recovered part of the drop from 94.4 dollars on 21 August and left the national average untouched, at 9.55 lei. Falls pass through more slowly — stations first sell stocks bought at old prices, and supply contracts are renegotiated periodically. The exchange rate matters too — crude trades in dollars, so a weaker leu makes fuel more expensive even when the barrel is flat. The full pump price history, with daily, monthly and yearly charts, is on the statistics page.
Frequently asked questions about the oil price
What is Brent crude oil?
Brent is the reference crude oil extracted from the North Sea, used as a price benchmark for roughly two thirds of international oil contracts, including the crude refined in Europe. The Brent quote is set on the ICE exchange in London and is expressed in US dollars per barrel. Fuel prices in Romania track the Brent quote because European refineries buy crude at prices linked to this benchmark.
How many litres are in a barrel of oil?
A barrel of oil holds 159 litres (more precisely 158.987 litres, the equivalent of 42 US gallons). From one barrel of crude, a refinery obtains a mix of products: petrol, diesel, jet fuel, fuel oil, LPG and other derivatives — the proportions vary with the type of crude and the refinery configuration.
Why do pump prices not fall as fast as oil prices?
The phenomenon is known in economics as "rockets and feathers": pump prices rise quickly when oil gets more expensive and fall slowly when it gets cheaper. Sharp, sustained rises do pass through quickly: in September 2026, the Brent rise in the PretCarburant.ro series from 88.10 to 96.28 dollars between 28 August and 4 September (+9.3%, November contract) showed up at the pump within days — petrol went from 9.55 to 9.76 lei/litre between 1 and 6 September. The slow fall comes from stocks bought at old prices and medium-term supply contracts. In addition, a large share of the pump price consists of excise duties and VAT, which do not move with the barrel.
How does the barrel price influence petrol prices in Romania?
The chain is: Brent quote → cost of crude for the refinery → price of refined products → excise duties and VAT → price at the station. Because excise duties are fixed per litre and VAT is a percentage, a 10% move in the Brent quote usually translates into only a 3-4% move in the final pump price. The RON/USD exchange rate also matters: if the leu weakens, petrol can get more expensive even with the barrel unchanged. See today's petrol price for the current national average.
Related pages
Data sources: Yahoo Finance (Brent Crude quote), European Central Bank (exchange rate), PretCarburant.ro (pump prices). Updated automatically every day.
