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Traders and fuel producers predict rise in oil prices

published on 8/26/23 5:23 PM

Photo: EPA/BGNES archive

The prices of mass fuels will exceed BGN 3 per liter. Such are the forecasts of the Association of Fuel Traders and Producers, as the price is expected to rise by around 8-9%.

Oil traders have warned that the removal of the derogation for processing Russian oil from the Burgas refinery will lead to an increase, and due to strong government pressure, the owners of the refinery will close it. The ownership is Russian and it is possible that the company decided not to process any other product than Russian.

Analysts from the Center for the Study of Democracy believe, however, that the switch to non-Russian oil will not cause tremors in the market. According to representatives of the Center, the Lukoil refinery is extremely modern and can process various types of crude oil from the Black Sea basin, including oil from the Middle East, without significantly increasing production costs.

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Radio Bulgaria News Lukoil oil oil prices oil refinery

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