Fuel Prices in Bulgaria Climb to New Record

Fuel prices in Bulgaria have rosen to record levels once again. File photo

The price of the most common fuel has hiked to new record level at the Shell gasoline stations in Bulgaria.

Thursday evening, the A95 gasoline reached the unprecedented price of BGN 2.74 per liter at Shell stations.

It is expected that in the course of the day Friday other stations across the country will join in.

According to a research of the Bulgarian Trud (labor) daily, some can even raise the price to BGN 2.76 per liter.

The reason for the latest increase is the increase of wholesale prices from the only refinery in the country, Russian Lukoil Neftohim Burgas. It has upped on Wednesday the A95 price by BGN 0.03.

The price of diesel was increased on Thursday and it will be sold for BGN 0.03 – 0.04 at gas stations.

Analysts explain the record-high prices with the increase of oil prices on global markets, increased consumption of fuels in countries such as Japan, and the falling exchange rate of the EUR against the USD.

In an interview for 24 Chassa (24 Hours) daily, the Minister of Transport, Ivaylo Moskovski, warns the fuel price hike will lead to the increase of all prices and voices alarm that the process can get out of control in case of an escalation of the situation in Iran.

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