Diesel and Petrol Prices: Drivers Cut Journeys As Industry Warns of Further Rises

Fuel prices are once again the focus of consumers’ attention. Petrol and diesel are becoming more expensive, with forecasts pointing to a further increase in the coming days. According to the industry, a number of international factors are behind the latest rise, including the ongoing conflict in Iran, disruptions to supplies and declining oil reserves. In Ruse alone, prices have increased by 7 euro cents per litre over the past week. Drivers say the proposed compensation of 20 euro cents would not solve the problem.

Simeon Donchev is filling his car with €20 worth of fuel. He hopes it will last him at least two weeks. He says that in recent months, the same amount of money has bought him increasingly less fuel.

Simeon Donchev: “With such low pensions and low wages, we are simply being driven into the ground.”

– It's very expensive. We've started driving less. How much has it gone up in a month? 40 to 50 cents.

– Everything is getting more expensive. I don't know how we're going to keep driving.

Today in Ruse, a litre of diesel costs €1.86, while petrol is €1.59. Because of the high prices, drivers are increasingly limiting their journeys.

Ventsislav Pengezov, petrol station owner: “The same factors are behind the latest increase in fuel prices. There is no prospect of an end to the conflict in Iran. Exports from Russia have been halted due to Armenian strikes. The Houthis' involvement in the Red Sea has also had an impact. This has affected exports from Saudi Arabia as well, including through strikes on the East-West oil pipeline. At the same time, reserves are declining and there is a shortage of both oil and diesel.”

According to drivers, the proposed state aid of 20 euro cents per litre would not solve the problem. Industry representatives believe that if compensation is introduced, it should be available to all consumers.

– There should be compensation. Remove VAT! At least 50 cents.

– 50 cents per litre. Then it would make a difference.

– They'll compensate you with 20 cents, for example, and it won't make any difference.

– Compensation isn't necessary. Those who can afford it will drive.

Ventsislav Pengezov, petrol station owner: “VAT revenues from fuel should be much lower. Around the world, in every EU country, even in countries considerably poorer than us, such as North Macedonia, VAT has been reduced by half. Fuel from the reserves could be released to ease this spike in prices. Oil stocks will continue to be depleted, and that will push prices up again.”

Forecasts for the coming days point to a further increase, making the prospect of diesel exceeding €2 per litre a real possibility.