BPGA Predicts That Fuel Prices Will Remain Around Their Current Levels

The Bulgarian Petroleum and Gas Association (BPGA) predicts that fuel prices will remain around their current levels, despite the petroleum prices rising in recent days.

“This year, the international prices for oil and its derivatives, have very strange behaviour. They have lost their summer peak, even become cheaper in the summer. In September, they remained latent, even during the invasion of the Saudi Arabian refinery. By the end of the year, OPEC leaders are trying to recover their levels within $ 64-65 a barrel“, said the Chairman of the Bulgarian Oil and Gas Association Zhivodar Terziev in an interview for “Horizont”.

The trend of increasing restrictions on fossil fuels could lead to price fluctuations, but not upwards but downwards, he added.

“But if we go into an alternative form of charging cars – synthetic fuels, synthetic gases, synthetic diesel fuels produced from straw or alfalfa, then inevitably the prices will be drastically different,” emphasized Terziev. He cites a study showing that the synthetic diesel, or the green diesel, made from completely different fossil bases, will cost around 2 euros per liter, excise duty and VAT excluded.

“I do not prepare anyone for this scenario, but stopping nuclear power plants, stopping coal plants, limiting fossil fuels, we need to have a big pocket,” said Zhivodar Terziev. He fears that “we will be unprepared again” because there are scenarios, but Europe is hurrying up as an “eager mother to nature.”

“Technologies have not been developed and the energy intensity for these technologies and between them, pollution, working on these technologies, calculated to the environment and pollution of fossil energy resources, cannot be estimated 1: 1 or adequately,” Terziev believes.