Economist sees brief fuel price rise

Bulgaria may experience temporary fuel price increases of less than 10 percent following U.S. sanctions against Russian oil companies Lukoil and Rosneft, according to economist Krasen Stanchev. The founder of the Institute for Market Economics told Bulgarian National Radio that any price surge would last for less than two weeks, as regional supplies remain adequate. Household fuel expenditures have dropped two-thirds since 2000, while incomes rose substantially across the same period.

Parliament required State Agency for National Security approval before asset sales at Lukoil Neftochim can proceed, raising transparency questions about the state’s 20 to 23 percent stake in the facility. Turkish and Azerbaijani firms expressed interest in acquisitions, though Stanchev recommended European Union buyers without Russian or Belarusian connections. Energy Minister Zhecho Stankov confirmed that Bulgaria has secured fuel reserves through December, with contingency measures prepared for the impact of sanctions.