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Bulgaria Says No Fuel Price Cartel
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Truckers across Bulgaria protested in the summer last year against the record high prices of the diesel fuel. Photo by Sofia Photo Agency
Bulgaria's anti-trust commission said there is no fuel price cartel on the market after wrapping up a probe it launched last year amidst truckers' protests.
Average retail fuel prices in Bulgaria were lower that those in European Union member states in the period from 2005 till April 2008, the regulatory body, the Commission for Protection of Competition, found out.
At the end of the period wholesale prices in Bulgaria caught up with price levels in other EU member states, but still remained the lowest, the commission said.
The excise duty and the Value Added Tax account for nearly half of the fuel prices in Bulgaria as their levels are considerably higher than those in Cyprus, Greece, Spain, Lithuania and Latvia.
The market has a transparent price policy and the sharp increase in price levels runs parallel to the rise in crude oil prices, the body concluded.
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