Bulgaria, Lukoil Agree on Month-long Freeze of Retail Fuel Prices

Bulgaria, Lukoil Agree on Month-long Freeze of Retail Fuel Prices

Bulgaria and Russia's Lukoil have agreed on a month-long freeze on retail prices of oil products in the Balkan country as of March 23, the government in Sofia said.

The agreement follows recent major protests of car and truck drivers and road hauliers against a rise in fuel prices supplied by Bulgarian oil refinery Lukoil Neftochim, majority-owned by the Russian oil giant Lukoil. The refinery covers about 80% of demand for motor fuels in Bulgaria.

Diesel fuel currently sells at around 2.45 levs per litre at the pump, while petrol prices average 2.35 levs per litre. Ten days ago prices were some 0.10 levs higher.

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