Bulgaria is in a relatively more advantageous position compared to other European countries, as over 80% of the oil our country uses is supplied by Kazakhstan. According to energy expert and former deputy minister Yavor Kuyumdzhiev, the supply of raw materials is secure, and quantity is not the main issue. In an interview with Radio "mediite", he emphasized that the price is dictated by global markets and no seller will offer a discount because of our sympathies or desires.
The expert warned that the upward trend in prices is likely to deepen, and the main question is not what levels they will reach, but exactly when this process will stop. As serious logistical obstacles, he pointed to the closure of the Strait of Hormuz and the Bab el-Mandeb Strait between Somalia and Yemen. Due to these circumstances, all tankers forced to leave the area must travel all the way around the African continent.
Added to this "perfect storm" on a global level are severe weather conditions:
- The drought has lowered the level of the Danube to unprecedented levels;
- Most power plants along the river – both nuclear and thermal – have been shut down, with only those in Kozloduy remaining operational.
Against the backdrop of galloping prices in Europe, where fuel in Germany is reaching 220 euros and in the Netherlands 250 euros, Kuyumdzhiev categorically rejected the possibility of state intervention. He explained that this is a global market where no country can influence the reduction of crude oil prices. In this sense, the expert opposed the opposition's demands for a state discount.
"Abandoning VAT or excise duties, or even reducing them, will lead to other holes in the state budget," warned Kuyumdzhiev. He noted that although some European Union countries have implemented such measures for various periods of time, it all remains a matter of careful balance.