Branch Association: No Fuel Price Increase Expected for Bulgaria

Business » ENERGY | April 25, 2011, Monday // 12:39
Bulgaria: Branch Association: No Fuel Price Increase Expected for Bulgaria File photo from one of the protests against fuel prices in Bulgaria. Sofia Photo Agency

Fuel prices in Bulgaria should be expected to stay largely the same, according to chair of the Bulgarian Oil and Gas Association Andrey Delchev.

Tuesday the moratorium between the state and oil giant Lukoil for a price freeze expires, but Delchev explained that is no worry.

"The moratorium was signed only by Lukoil, while the rest of the companies on the market continued in doing price-formation according to their corporate policy, which did not lead to a price increase," said he.

He added that that implies that no sharp raises should be expected, while it is nevertheless possible that due to world oil prices the prices in Bulgaria might go up with BGN 0.15-0.20 per liter in the next few months.

Over March and April, Bulgaria was site of protests against what some consumers saw as unfair and speculative price formation for fuels in the country.

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Tags: gas, oil, fuel, fuel prices

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