In Bulgaria, the growth in fuel prices is 10%, and in the EU it is 30%. I expect convergence. We are holding prices down because our supply chain is different. This was stated on Nova TV by energy expert Martin Vladimirov from the Center for the Study of Democracy.
In his words, this is the worst oil crisis in the history of oil and the situation is becoming more complicated every day. "The problem with oil prices will not stop. Even if the Strait of Hormuz is opened, they will remain quite high", he also believes.
Vladimirov assured that there is no risk to the physical supplies of oil to Bulgaria. “We are holding prices at the moment because our supply chain is very different from that of other EU countries. We receive crude oil directly from Kazakhstan. The refinery buys it at much more stable prices and has reserve quantities that are stocked for three months. Having said that, however, all refineries, including our refinery, price based on the Mediterranean Fuel Exchange, and there the increase in fuel prices is serious and it will also affect fuel prices in our country“, he said.
“The question is, can Bulgaria control this because it is in a unique position to manage the refinery, we have a special manager who can push the profit margin“, the expert added.