There is a regulatory obstacle related to biofuels, which could leave Bulgaria without gasoline from March 1st and with a much reduced supply.
This was stated to the Bulgarian National Radio by Svetoslav Benchev, Chairman of the Bulgarian Oil and Gas Association, specifying:
"If measures are not taken by the National Assembly, this will probably happen".
In his words, "the mistake has been made" during the transposition of a European directive on renewable sources, when the biofuel component was dropped and if this does not change by March 1, the country may be left with significantly reduced fuel supplies.
Talks have been held with many of the parliamentary groups, Benchev pointed out.
"We are reporting an increase of 4 stotinki in diesel, which is 1.5% within a month. It is similar with A95 gasoline, which is the most popular gasoline, there is an increase in price of about 3 stotinki, which is about 1%. This is a very minimal fluctuation, since since mid-December the barrel has increased in price by about 5 dollars. Nothing dramatic on the fuel market," he further commented.
In recent months, there has been a recovery in the activity of the gray sector, mainly related to VAT fraud, illegal VAT refunds, collection of receipts and their use for invoices.
"According to our calculations, the losses can reach up to 200-300 million leva per year", the expert estimated.
In recent weeks, there has been optimism on the part of crude oil brokers due to the recent inauguration of US President Donald Trump, Benchev believes:
"We know that he is quite in favor of fossil fuels and it is expected that there will be a more serious demand for oil products, speculators worldwide are betting on this. ... We need to watch what Trump will do with Iran and what sanctions will be imposed on this country, which could reduce fuel production. It already happened during his first term. Everyone is now wondering whether it will not happen again. If it does, there may be some price increase by a few dollars, but let's wait".
The fuel market has become accustomed to the tension in the Middle East, he also pointed out.
"We are in times when every geopolitical situation affects fuel prices. Even a storm can have an impact. I am a realist and expect 70-85 dollars per barrel in 2025," Benchev explained.