Diesel Reaches Record 2 Euros per Liter

Diesel fuel in the country has mass-market reached 2 euros per liter at certain gas stations, according to “Freethinker Point” (Свободна точка). Due to this drastic spike, the new chairperson of the Consumer Protection Commission, Maya Manolova, ordered mass checks into the economic justification of the price increase.

Behind the high prices lies tension in international markets: the price of Brent crude permanently exceeds 100 dollars per barrel, and Saudi Arabia has begun reducing supplies to Europe. At the same time, the conflict in the Middle East and the blockage of the Strait of Hormuz signal a shortage of the raw material.

The average price of diesel in Bulgaria is already around 1.96 euros per liter, while gasoline is trading near 1.69 euros. At some outlets the price of diesel reaches around 2 euros, while at others it remains just slightly below.

The government approved an urgent package of measures: a one-time €50 aid for the most vulnerable citizens and €170 million for farmers affected by the fuel price rise. However, there is no immediate plan to reduce prices for all consumers, and a temporary exemption from the excise tax on propane-butane is being considered.

Inspectors from the Consumer Protection Commission will monitor whether the removal of the excise tax leads to a real decrease in prices for drivers. In cases of proven unjustified markups, strict sanctions will be imposed.

The gas station inspections are part of a broad initiative by Maya Manolova following her election to the position. It envisions intensified control over retail chains, electricity distribution companies, the water and sewerage sector, and heating utilities.

Source: Telenews