The BPGA predicts that fuel prices will remain at their current levels.

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

This year, international prices for oil and derivatives, as well as finished products, have been behaving very strangely. They missed the summer peak and even fell in price during the summer. In September, they remained latent, and even during the invasion of the refinery in Saudi Arabia, they rose sporadically within hours and then calmed down. Towards the end of the year, OPEC leaders are trying to restore levels within the range of $64-65 per barrel,” commented Zhivodar Terziev, chairman of the Bulgarian Oil and Gas Association, to Horizon.

The trend toward ever greater restriction of fossil fuels may lead to price price fluctuations, but not in the direction upward, but downward, he added he.

“But if we switch to an alternative form of fuel for cars—synthetic fuels, synthetic gases, synthetic diesel fuels produced from straw or alfalfa—prices will inevitably be drastically different,” Terziev emphasized. He cited a study according to which synthetic diesel, or green diesel, produced from sources completely different from fossil fuels, will cost around €2 per liter, excluding excise duty and VAT.

“I am not preparing anyone for this scenario, but by shutting down nuclear power plants, shutting down coal-fired power plants, and limiting fossil fuels, we need to have deep pockets,” Zhivodar Terziev pointed out. He fears that “we will once again be unprepared” because there are scenarios, but Europe is rushing ahead like an “impatient mother to nature.”

“The technologies have not been developed, and the energy intensity of these technologies, including the pollution caused by working with them, calculated in terms of the environment and the pollution of fossil fuel resources, cannot be assessed on a 1:1 basis or adequately,” Terziev believes.