site.btaPetroleum Sector Representatives Assure Energy Minister that No Speculative Profits Are Being Made

Representatives of the petroleum sector emphasized during a meeting with caretaker Minister of Energy Traicho Traikov their desire for close interaction with the state in order to ensure stability and predictability in the fuel market and assured the Minister that they are not making speculative profits, as announced by the Ministry on Tuesday.

During the meeting with the Bulgarian Petroleum and Gas Association on Tuesday, current trends on international exchanges and their impact on the Bulgarian fuel market were discussed. 

"In such a dynamic environment, it is extremely important for the state to have timely and reliable information. We expect clarity from the industry regarding the stocks maintained, current orders, and the applied pricing and reporting methodologies, so that we can monitor the processes and respond adequately, if necessary," said Traikov, quoted in the announcement.

The business representatives informed him about the degree of utilization of the available reserves. Traikov stressed the key importance of all participants in the chain who are included in the formation of the final price of fuels and noted that they must take into account the interests of consumers in the process of realizing permissible commercial profits.

Fuel prices on the Bulgarian market have increased by 6-9% over the past week amid the ongoing conflict in the Middle East, according to data from a specialized platform.