Low Fuel Prices to Last At Least Another Year

The low fuel prices would last for at least an year, said former economy minister Traycho Traykov for Nova TV.

“It is a simple arithmetic – the crude oil accounts for 45% of the end fuel price,” he said. “This explains why the actual prices of petrol and diesel decreases by only 16-17%.”

According to the economist Lachezar Bogdanov, in the last month the crude oil price fell by 20%, while for the entire 2014 – it dropped by around 38%.

“People wonder why the petrol did not get much cheaper – this is because of taxes and excise duties,” Bogdanov said. “They cannot drop. Besides, we have a monopolist natural gas importer and he hasn't changed the prices at all. In the US, for example, the natural gas prices dropped by 30%.”

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!