Bulgaria's Economy Minister Predicts Stable Fuel Costs Post-Russian Oil Derogation

Bulgaria's Economy and Industry Minister Bogdan Bogdanov conveyed in an exclusive interview with bTV on Sunday that March 2024 is not anticipated to witness a significant surge in fuel prices post the lifting of the Russian oil derogation. He emphasized that a smooth transition at the refinery, enabling its optimal functionality, would likely avert considerable fluctuations in fuel costs.

"Intensive efforts have been undertaken in the past few months to prepare proficient individuals to oversee refinery operations. We've strategized oil utilization to maximize the refinery's output," Bogdanov articulated.

While underscoring the influence of global market dynamics on fuel prices, the Minister indicated the unpredictability of price fluctuations over the forthcoming six to nine months.

"The primary objective is clear - sustaining the refinery's operations and preserving jobs for its 4,000 employees," Bogdanov asserted, emphasizing the imperative adherence to European sanctions and tax regulations, irrespective of the involved economic entities.

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