Romania: End of price...

Electricity bills for July and part of August 2025 in Romania are significantly...

Bosnia and Herzegovina sees...

According to the Agency for Statistics of Bosnia and Herzegovina (BiH), gross electricity...

Albania: Electricity production falls...

According to data from the Albanian Institute of Statistics (INSTAT), electricity production in...

Romania: Energy Vault partners...

Swiss energy storage company Energy Vault has signed an agreement to provide up...
Supported byClarion Energy
HomeUncategorizedBulgaria, Government to...

Bulgaria, Government to cooperate with Lukoil in order to lower fuel prices

Caretaker Ministers of Energy and Finance, Rossen Hristov and Nikola Stoyanov, met with the management of Russian owned Lukoil Neftochim and Lukoil Bulgaria to discuss fuel prices in the Bulgarian market, with the aim of lowering fuel prices.

Minister Stoyanov confirmed that this matter was a priority for both Ministries, adding that the working group on this matter will be established next week. He said that the fuel prices impact all, as they are a component in the price of all goods and services, with inflation at over 17 %, twice the EU average. He described the situation as an opportunity to rein in inflation.

Both Hristov and Stoyanov declined to answer how much they expect fuel prices to fall and for how long.

Former Energy Minister in the GERB Government Delyan Dobrev said that fuel obtained from Lukoil is unrealistically expensive, despite the refinery using Russian crude oil which became significantly cheaper (by 40 %), following the Russia’s invasion of Ukraine. Dobrev offered two possible solutions to the problem: the first is that Bulgarian state buys crude oil directly from Russia, pays the processing fee to Lukoil, after which fuel will be sold to petrol station by Bulgarian Energy Holding (BEH) at more affordable prices.

The second solution is to impose special excise tax in the amount of 0.5 euros per barrel of crude oil before processing. This way, almost 1.75 billion euros per year will be paid to the state budget and the state will use this money to subsidize retail fuel prices.

Supported byOwner's Engineer banner

Recent News

Supported byspot_img
Supported byspot_img

Latest News

Supported byspot_img
Supported bySEE Energy News

Related News

Bulgaria: Bulgargaz proposes slight reduction in wholesale gas price for August 2025

Bulgarian state-owned gas supplier Bulgargaz has proposed a lower wholesale natural gas price for August 2025. The suggested price is around 31.2 euros/MWh, which is 1.77% lower than the approved August price of about 31.7 euros/MWh. That price already...

Bosnia and Herzegovina: RS Government offers 124 million euros to buy back Comsar Energy and Ugljevik concessions

The Government of the Republic of Srpska (RS) plans to offer 124 million euros to purchase Rashid Serdarov’s company, Comsar Energy RS. Energy and Mining Minister Petar Djokic said the cabinet had reviewed information from state energy firm Gas Res...

Bulgaria: TPP Bobov Dol explores gas and advanced battery solutions for cleaner energy transition

US energy experts have met with the management of TPP Bobov Dol to discuss options for accelerating the plant’s environmental transition. Deputy CEO Ivelin Dimitrov hosted the talks with representatives from the energy solutions company Emtel. Discussions focused on gas-fired...
Supported byVirtu Energy
error: Content is protected !!