Deputy prime minister and economy minister Alexander Pulev said in Sliven that there are no signs so far of a threat to crude oil shipments. Two merchant ships in Bulgaria's economic zone in the Black Sea were hit by a drone. He cited a conversation with the special commercial manager of Lukoil.
The strikes raised the risk for shipping routes in the Black Sea. Pulev said the security services must say whether they were a one-off or part of a wider strategy that could affect fuel prices.
The current measures to curb fuel prices run for three months, until the end of the year. Pulev told BNT they will be extended if needed: "If there are more escalations and a price shock, we will take other steps too."
Pulev said the state has three tools: excise duty, VAT and direct subsidies. It has already used all of them. The options are limited in practice, the deputy prime minister said, and the cabinet acted early and its measures are working.
Excise duty is already at the lowest level the rules allow. The exception is propane-butane, which has a zero rate to help poor people and drivers with gas systems.
The direct subsidy for poor people and pensioners is already being paid, and about 80% of the money has reached recipients.
The government is looking at different options on VAT, but does not plan to cut the rate for now. Pulev told BNT: "Cutting the VAT rate would have a very big effect on public finances. You know they are not in the best shape."