Gyurov on the Prices of Goods and Fuels: We Expect Market Stabilization

I hope the truce between the US and Iran will be observed, that it will calm international markets, and that passage through the Strait of Hormuz will be freed, which will also lead to a calming of prices, said caretaker Prime Minister Andrey Gyurov at the meeting of the Headquarters for Coordination of Monitoring and Control of the Prices of Goods and Fuels as a result of the conflict. This was announced by the Council of Ministers.

The United States will work closely with Iran, which has gone through a “regime change,” and will also hold negotiations with Tehran to ease tariffs and sanctions, said US President Donald Trump, after announcing the two-week ceasefire, Reuters reported earlier.

Andrey Gyurov pointed out the immediate reflection of the truce on international oil prices – a drop to $94-95 per barrel. There is much talk of galloping prices and crises, which, according to preliminary data, are not confirmed. This does not mean that tension is not building up in the system; the task of the caretaker government is to absorb this tension before it is transferred to the end consumer, the prime minister emphasized.

The government will conduct a weekly analysis of the prices of goods from the small consumer basket, in order to avoid speculation, the prime minister also said. At the moment, the increase is limited and there are no drastic price increases, it became clear from a report by the Consumer Protection Commission (CPC), the Council of Ministers also pointed out.

In 40% of the 101 groups of goods and services observed, there is an increase in prices in March compared to February, and in 60% of the cases prices are falling, explained the acting Chairman of the CPC, Alexander Kolyachev, and added that the change in the price of fuels has not affected the goods and the retail chains that the CPC monitors.

The Minister of Agriculture and Food, Ivan Hristanov, expects a reduction in prices during this and the next week and for the shops themselves to disprove the insinuations that prices are rising, the Council of Ministers also announced.

In 48 out of 800 gas stations checked by the National Revenue Agency (NRA), there is an increase in the margin for the three types of fuels, in 88 there is an increase in the margin only for gasoline and diesel. More documents are expected, based on which there will be clarity in May whether some gas stations will be sanctioned under the Law on the Introduction of the Euro for unreasonable price increases, said the Executive Director of the NRA Milena Krastanova, quoted in the statement.

The Headquarters continues with an analysis of the measures already taken, which are not helicopter money, but targeted assistance for the most vulnerable groups of citizens and sectors, said Prime Minister Andrey Gyurov.