Caretaker Government Will Not Rush Measures Against Rising Fuel Prices, Finance Minister Says

The state will not rush to introduce measures to counter rising fuel prices, caretaker Finance Minister Georgi Klisurski said on March 11.

However, the Council of Ministers is examining examples from other countries that have already introduced compensation schemes for their citizens. Meanwhile, many people fear that higher fuel prices will accelerate inflation and push up the cost of other goods.

Over the past 10 days, petrol A-95 at Bulgarian petrol stations has increased by 8 euro cents per litre, while diesel has risen by 16 euro cents.

While several countries have already implemented support measures, Bulgaria’s caretaker government is still assessing whether action is necessary and reviewing foreign approaches.

Caretaker Prime Minister Andrey Gyurov:

“There are examples such as price caps in Croatia, restrictions in Germany on how often prices can be changed at petrol pumps, and proposals for fuel vouchers in Greece.”

Caretaker Finance Minister Klisurski noted the significant volatility of oil prices on global markets, but added that the government in Bulgaria - is not in a hurry with measures.

“It is important not to rush with measures. At the same time, we are fully prepared — if prices rise more sharply — to protect Bulgarian citizens,” he said.

• The state is preparing measures to tackle rising fuel prices

Many people say fuel prices are already too high and that government measures are coming too late.

Svilen, a driver, commented:

“Yes, measures should be introduced. Everything is getting more expensive while salaries remain the same.”

Another member of the public said the state should consider compensation for ordinary people.

photos by BTA; BGNES

Others warned that higher fuel prices would inevitably affect the cost of other goods.

Kostadin Neshkov:

“In Bulgaria we already limit ourselves — you travel only when it is necessary, not just to drive around.”

Earlier in the day, the caretaker Finance Minister said he would hold a meeting with relevant institutions to discuss possible measures against rising fuel prices. As of now, no results from the meeting have been announced.