Bulgaria Grapples with Surging Fuel Costs as Diesel Hits EUR 1.95 per Litre

Fuel prices across Bulgaria have experienced a sharp upward trend this week, placing additional pressure on consumers and the transport sector. Diesel has emerged as the most affected commodity, seeing a significant weekly jump of 3.72%. This surge brings the average price of diesel to EUR 1.95 per litre, marking a period of sustained volatility in the nation's energy market and sparking concerns regarding the cascading costs of goods and services.

The price hikes are not limited to diesel alone, as nearly all fuel categories recorded increases. A95 petrol rose by 3.07% this week, reaching an average of EUR 1.68 per litre. When viewed over a longer trajectory, the data reveals a stark monthly rise of 7.69% for petrol and 7.14% for diesel. Other fuel types followed a similar pattern; Liquefied Petroleum Gas (LPG) rose by 1.47% to reach EUR 0.69 per litre, while Compressed Natural Gas (CNG) saw a more modest increase of 0.72%.

In a strategic attempt to cushion the economic impact on citizens, the Bulgarian government has announced the removal of the excise duty on LPG. This intervention is part of a broader economic strategy aimed at alleviating the financial burden on households and businesses that rely on gas-based energy for heating and transportation. As global energy markets remain unpredictable, the government's move signals a commitment to using fiscal policy to stabilize domestic prices, though the long-term effectiveness of such measures against international market trends remains under observation.