Diesel prices in Bulgaria are likely to continue rising next week as a global shortage of the fuel puts additional pressure on prices, according to Dimitar Hadzhidimitrov of the Association of Fuel Traders, Producers, Importers and Transporters.
Hadzhidimitrov said several factors are contributing to the shortage, including tensions between the United States and Iran, attacks on Russian refineries and limited refining capacity. These pressures are making it increasingly difficult for refineries to produce enough diesel to meet global demand.
"The problem at the moment is the lack of diesel fuel on a global scale, and there are many factors for this, including the relationship between the US and Iran and the attacks on Russian refineries," he said in an interview with NOVA.
The gap between the price of crude oil and the price of finished fuel has reached its highest level in six years, according to Hadzhidimitrov. He said crude oil is currently trading at around USD90-USD92 per barrel, while the price of processed diesel has risen above USD1,300 because refineries cannot process enough fuel.
"The price of the raw material is around USD90-92, but due to the inability of refineries to process sufficient quantities, diesel reaches over USD1,300," he explained.
