site.btaEnergy Minister: Fuel Price Rise of 3 Euro Cents Reflects Global Oil Price Increase

Caretaker Energy Minister Traicho Traikov said in an interview with NOVA TV here on Thursday that a fuel price increase of three euro cents corresponds to the rise in global crude oil price.

If the situation in the Middle East does not escalate significantly in military terms, there is no reason to expect a larger price increase on global markets, he said.

Traikov added that he had spoken with the special commercial administrator of the Burgas oil refinery, Rumen Spetsov, who assured him that supply volumes for the refinery have been secured until the end of April. Deliveries to the refinery come from various locations, the Minister noted.

According to Traikov, for fuel prices to increase by 20%, the price of crude oil would have to rise by about 60%, and the current situation is far from such a scenario.

On Wednesday caretaker Prime Minister Andrey Gurov said Bulgaria receives oil and fuels from destinations that are not currently affected by the hostilities. There have been no disruptions to supplies to the country. There are sufficient fuel reserves in the state reserve, while petrol station owners have also confirmed that they have available stocks and that the market remains calm, he said, commenting on the situation in the Middle East and fuel prices.