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Fuel prices on the rise in Bulgaria

published on 3/1/24 2:55 PM

Svetoslav Benchev, Bulgarian Oil and Gas Association

Photo: BGNES

Retail fuel prices in Bulgaria rose by an average of 10 cents for diesel and 4 cents for petrol last month.

"The prices are fully justified. They are related to what is happening on the international oil markets," said Svetoslav Benchev of the Bulgarian Oil and Gas Association.

The industry warns that fuel prices will rise because of stricter EU requirements for the use of alternative and biofuels, and that Bulgaria should take timely action to avoid price shocks. "What we can say in general is that we are back in a world where every geopolitical event has an impact on the price of fuel," Benchev said.

Under EU rules, member states must gradually replace conventional fuels with biofuels and carbon-neutral fuels.

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Radio Bulgaria Economy eu requirements fuel prices retail Svetoslav Benchev

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