Bulgaria: Gasoline Up 3 Cents, Diesel Rises by 6 Cents/Liter in Last Month

Consumers may have noticed a slight uptick in fuel prices over the past month, with gasoline and diesel seeing modest increases in Bulgaria. According to data from the "Fuelo" platform, gasoline prices rose by 3 cents per liter (1.14 percent), while diesel saw a slightly larger increase of 6 cents per liter (2.21 percent). However, despite these incremental rises, there's a prevailing trend of price stagnation in the market.

As of today, A95 gasoline is selling at an average of BGN 2.66 per liter, up from BGN 2.63 per liter on January 10. Similarly, diesel prices have climbed from BGN 2.71 to BGN 2.77 per liter over the same period. Conversely, the price of propane-butane has remained unchanged at BGN 1.27 per liter.

In contrast, methane prices have experienced a notable decrease, dropping by 14 cents per kilogram or 6.03 percent. On February 10, methane was priced at BGN 2.32 per kilogram, whereas now it averages BGN 2.18 per kilogram.

Svetoslav Benchev, chairman of the Bulgarian Oil and Gas Association (BPGA), anticipates that these prices will likely persist until the Easter holidays, attributing the stability to fluctuations in crude oil and finished product exchanges. Benchev emphasizes that the impact of the cancellation of the derogation on fuel prices remains negligible.

Despite geopolitical tensions and fluctuations in global oil prices, fuel prices in Bulgaria have remained relatively stable over the past 5-10 days. The recent increase in prices predates the final cancellation of the derogation affecting Russian oil imports, indicating that market dynamics play a more significant role in pricing.

While acknowledging the influence of consumption and crude oil prices on fuel costs, Benchev suggests that there's currently no immediate pressure for further price increases at gas stations.

In terms of specific stations, data from "Fuelo" reveals that A95H gasoline is now 1 cent cheaper at "Lukoil" stations, priced at BGN 2.64 per liter. However, overall, there have been no significant changes in fuel prices at Lukoil gas stations in recent weeks.

On the global stage, the average oil price of the Organization of the Petroleum Exporting Countries (OPEC) has seen a slight uptick to .08 a barrel, while Brent crude and U.S. light crude prices have experienced marginal declines due to sluggish demand from China.

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