Bulgarian Oil and Gas Association

There may be challenges ahead for oil prices if the situation in the Middle East escalates into a regional conflict. However, Svetoslav Benchev, the chairman of the Bulgarian Oil and Gas Association (BOGA), expressed hope that fuel prices would remain stable. He made these comments during a conference on "Energy Transition in Transport," which marked BOGA's 25th anniversary.

Consumers may have noticed a slight uptick in fuel prices over the past month, with gasoline and diesel seeing modest increases in Bulgaria. According to data from the "Fuelo" platform, gasoline prices rose by 3 cents per liter (1.14 percent), while diesel saw a slightly larger increase of 6 cents per liter (2.21 percent).

"All members of the Bulgarian Oil and Gas Association and most of the gas stations in the country as a whole already offer the state discount on the price of fuel", Svetoslav Benchev from the association told BNT today. It is about 25 cents per liter for base fuels, which is deducted from the price from Saturday.

"In the coming days, fuel prices will rise due to the Russian invasion of Ukraine. It is difficult to say how much the price increase will be and whether the petrol will reach BGN 3. But supply problems are not expected and there will be no shortage of fuel." This was stated on Nova TV by Svetoslav Benchev from the Bulgarian Oil and Gas Association.

Fuel prices will rise by another 10 cents by the end of the year, traders predict. The upward trend in prices is due to more expensive oil on international markets.

The Commission for Protection of Competition (CPC) sealed the office of the Bulgarian Oil and Gas Association, the commission announced. This happened after a sudden on-site inspection. It was undertaken in the course of proceedings to establish possible infringements of the Treaty on the Functioning of the European Union in setting the prices of bulk automotive fuels. 

Currently, the prices at which Bulgaria buys gas under its long-term contract with Russia's Gazprom are twice as high as those on the Austrian stock exchange. This was announced by the chairman of the Balkan and Black Sea Petroleum Association Valentin Kanev, BNR reported.

Oil prices skyrocketed due to attacks on Saudi refineries. The increase is the largest in the last 30 years.

Urgent inspection in the fuel sector will be conducted following an alert by the Bulgarian Oil and Gas Association, Bulgaria's Prime Minister Boyko Borissov announced on 26th of February, reported the Bulgarian National Television. 

Results of the inspections of the National Revenue Agency (NRA) and the Ministry of Interior are expected tomorrow.