Caretaker PM: Bulgaria’s fuel supplies are uninterrupted, no need to bring in new supplies at higher prices

Bulgaria receives oil and fuels from destinations not affected by the hostilities in the Middle East and currently new supplies at higher prices are not needed, caretaker Prime Minister Andrei Gyurov said on March 4.

Gyurov said that the refinery in Bourgas has sufficient quantities of oil delivered before the start of hostilities in the Middle East and before prices on world markets began to rise.

He said that fuel station traders also had confirmed that they have supplies and the fuel market is calm.

“Fears can create a crisis where none exists,” Gyurov said.

“If we see a hasty rise in fuel prices, it will not be from a physical shortage or a real reflection on world markets, but mostly from non-market behaviour.”

He called on all institutions to provide prompt information and take decisive action against traders who behaved out of alignment with the market.

“Let’s be clear – Bulgarian citizens will not pay the price of artificial suggestions, panic and non-market behaviour. The state will not allow fear to turn into profit for a few at the expense of all Bulgarian citizens,” he said.

The Consumer Protection Commission is starting inspections at fuel stations and will monitor for speculative increases in fuel prices because of the conflict in the Middle East, Economy Minister Irina Shtonova said on March 4.

“The information will be analysed to see if there is a price increase, whether it is legal,” Shtonova said.

“We have stocks that should still be at the old prices. The Euro Adoption Act allows us to impose sanctions from 5000 to 100 000 leva, and in case of a repeated violation, up to 200 000 leva,” she said.

(Photo: Hippopx)