Petrol is below BGN 2.70 and there hasn’t been a price like it for 18 months
Fuel prices are expected to drop 15-20 cents before Christmas. Therefore, diesel will fall below BGN 3, which will be the lowest price in 18 months – last time it was like this in April last year.
Bulk A95 petrol is expected to drop below BGN 2.70, due to severe decline in international markets. Brent crude oil was already trading at $84 a barrel on Sunday, down 1.68%. By comparison, during the summer, prices sometimes exceeded $100.
Light crude also fell to $76.55. The reason for this is the cap on the price of Russian oil being discussed by the G-7 countries as part of the sanctions against Russia. The amount under discussion is 65-70 dollars a barrel.
At the moment, Russia mainly exports by sea to China and India, where about 2/3 of the deliveries go. At the same time, however, demand from China is declining as lockdowns continue to be imposed in the country due to the “zero covid” policy. China is the largest oil importer in the world.
In our country, mass-market gasoline A95 has already become cheaper on Sunday by another cent, and over the past month by a total of 10 cents, so its price has dropped on average to 2.86 levs per liter at stations of service. This is the lowest value since March 1, when immediately after Russia’s attack on Ukraine, oil prices started to rise, first slightly, then quite strongly.
At this price, motorists in our country still use and most likely will use, at least until New Year’s Eve, a discount of 25 cents per liter of petrol. Last week, the cabinet decided to allocate another BGN 36 million for this measure, for which BGN 150 million was allocated from the July 1 budget. They will reach only on 4-5 December, but with the new tranche of BGN 36 million. the discount will be granted until New Year’s Eve, and eventually even after.
Diesel is also getting cheaper, although it is significantly more expensive than A95 petrol. At the moment, its average price is 3.30 levs per liter and is 5 cents lower than last week. For this regular diesel, people even get a discount of 25 cents a liter.
The most significant is the decrease in the price of natural gas – by 1.60 lev in the last month. At present, its average price is 3.31 lev. The price of methane is directly correlated to the price of natural gas which, despite the tensions due to the suspension of supplies from Russia to almost all of Europe, continues to become cheaper.