The increase in oil prices depends on how long the conflict and the blockade of the strait will last. The increases are mainly due to the geopolitical risk that exists. This was explained to bTV by Tsvetomir Nikolov, an energy expert from the Center for the Study of Democracy.
According to him, the main problem with suppliers is that there is no way for ships to leave the area - the crew is in danger, there is no insurer to take this risk.
„There is enough competition on the retail market to ensure that there is no speculation. However, there is no competition at the wholesale price - there is only the refinery in Burgas“, the expert specified.
“There is no danger to Bulgarian crude oil supplies, because over 80% are supplied from Kazakhstan. However, the price indexation is based on the stock exchange index, which is where the main increase comes from“, Nikolov said.
When asked when to expect an increase in inflation, he specified: ““Heating“ depends a lot on the increase in the price of natural gas, but the heating season is coming to an end. In terms of fuels, that will be the main shock, but I do not expect major inflation. Within two or three weeks, a slight increase in prices should be felt from what is happening.“