The price of mass diesel will return to prices of 2.26 leva. The oil crisis has passed us by. Fortunately, there was no panic. Unlike what happened a few years ago, when Russia attacked Ukraine. This was stated in “This Morning“ on bTV by the executive director of the Bulgarian Oil and Gas Association, Andrey Delchev. According to him, the fuel market in our country follows global trends.
“After the exchange of blows between Iran and Israel, oil became more expensive, “Brent“ by nearly 11%, and “American crude oil“ by 9%. Respectively, fuels went up. In our country, the increase in price was in the order of 7-8 stotinki, the average price is about 2.40 leva for diesel. Fortunately, there was no panic. Unlike what happened a few years ago when Russia attacked Ukraine,“ the expert explained.
Delchev specified that the jump was due to the geographical location of the conflict – the Persian Gulf, the most intensive oil production region or 20% of the world's oil passes through the “Strait of Hormuz“.
“If it had been closed, things would have been dramatic, fortunately, this was avoided for a number of reasons – US intervention, Iran's prudence, etc. A war in this region means a difficulty in supplies. Fortunately, the supplies did not stop and this led to a smooth increase, and after the ceasefire a decline began“, he also commented. According to him, prices go up and down at the same speed:
“When prices go up, even if you bought the raw material at lower prices, you have to calculate the allowance that you need to buy the next cargo. Respectively, when prices are at their peak, and you have bought expensive fuel, there is a period in which this fuel must be consumed, even if prices fall. You take into account competition and world markets“.
He predicts that the price of mass diesel will return to prices of 2.26 leva. According to him, there are no economic conditions for prices to be higher. Delchev said that there could be an increase, however, if Brussels introduces taxes on harmful emissions from fuels.