Fuel prices may drop as international markets stabilize

International fuel markets are showing signs of stabilization, with a slight decrease in crude oil and finished product prices. Dimitar Hadzhidimitrov from the Association of Bulgarian Fuel Traders, Producers, Importers and Carriers suggests that current international prices may be unrealistic compared to market fundamentals, predicting a potential downward trend within a month.

While crude oil production has increased by approximately 25% in Venezuela, the United States, and Russia over the last month, a significant bottleneck remains in refining capacity. There is a global shortage of approximately 4 million barrels of diesel per day, a problem particularly acute in Europe. This shortage is driven by refineries operating near maximum capacity and supply disruptions from Russia and the Middle East.

In Bulgaria, diesel prices have recently reached historic highs, recently averaging around 1.96 euros per liter. If the current trend of stabilizing international prices continues, these costs are expected to eventually reach local pumps.