Benchev says oil trend could hold Bulgaria prices
Crude oil prices have declined recently, potentially leading to stabilized fuel costs if the downward trend continues, according to Svetoslav Benchev, who leads the Bulgarian Oil and Gas Association. Speaking on Nova TV, he explained that gasoline and diesel exchanges are currently driving market fluctuations, with sanctions-related supply concerns in Serbia, Bulgaria and Romania pushing regional prices higher over the past month.
Benchev confirmed that officials anticipated and worked toward obtaining sanction derogations, noting Bulgaria’s NATO membership made the decision logical. Regarding the appointment of Rumen Spetsov as special manager at Lukoil, he characterized the selection as politically motivated while acknowledging that Spetsov possesses relevant market expertise in both wholesale and retail operations.
Bulgarian consumers have experienced notable price increases, with diesel rising 12 stotinki per liter to reach 2.50 leva and gasoline climbing 5 stotinki to 2.43 leva monthly. Ventsislav Pengezov, a Ruse gas station owner, reported wholesale costs jumping 20 stotinki since sanctions took effect. While expecting short-term stability, he anticipates long-term increases of at least two to three percent, though he believes adequate refinery reserves will prevent shortages.
