There is no danger of a fuel shortage and a shock increase in price, at least I don't expect it, Vasil Simov from the Sofia Stock Exchange said in an interview with the Bulgarian National Radio.
In the program "12+3" he commented on the economic consequences of the war in the Middle East and whether it is pushing up fuel prices wholesale and at gas stations.
"The increase in prices at gas stations by 3 - 4 euro cents is early from a market point of view, but not from a psychological point of view. Fear is driving prices up, and there is no reason for an increase, because consumption is not yet that great," Simov believes.
He is categorical that there is no reason for fuel prices to rise sharply and comments on the increase in prices at gas stations by 3 - 4 euro cents:
"In this case, the control authorities have nothing to find. Everyone's tactic is to sell at higher prices. The competition among gas stations is huge and we do not see a sharp increase in prices - great competition, but there is fuel."
Vasil Simov explained that during inspections by the CPC and the CPC, traders will prove that the increase is justified, "because they have their own costs":
"Once there is increased demand from citizens and businesses, supply will start to raise prices and this is barely noticeable. From a market perspective, there is no reason for price increases at gas stations and warehouses, but because expectations are that we will have difficulty delivering petroleum products and suppliers are putting more on the price. These are not purely market principles, but are derived from the fear that there may be a delay. Traders should not be subject to sanctions. Every seller of a service and good bets a slightly higher profit in their tactics, which is a desire to protect themselves from a future loss that you may suffer."
Simov's opinion on the fuel market is that it is balanced and there is fuel.
"I have no concerns. If the conflict continues for a longer period, it will affect wholesale prices and from there retail prices. The price increase began a month before the conflict in Iran. I think there is no reason to worry, we mainly import crude oil from different places and we are not dependent on Iran, the reserves are sufficient," Simov warned.