Bulgaria's cabinet to present measures for reducing fuel prices to EC

Bulgaria's cabinet to present measures for reducing fuel prices to EC

Bulgarian fuel producers and traders have drafted measures for curbing fuel prices at a meeting held with prime minister Boiko Borissov and ministers Simeon Djankov, Traicho Traikov and Alexander Tsvetkov on Wednesday.

The three measures envisage the exclusion of bio-components in the total fuel balance or the elimination of excise duty on them, as well as aligning fuel reserve terms for both the state and the suppliers.

The measures will mainly impact diesel prices, with the possibility of their implementation yet to be analysed. The proposals should also be presented for approval to the European Commission.

The bio-component accounts for 3% of the fuel and its use is obligatory as of 2011 as part of the EU's requirements for boosting the use of biofuel and renewable sources in transport.

According to Mirolyub Stolarski, chairman of the Union of road transport associations, if this requirement was abolished, the final price of diesel could decline by about BGN 0.15 per litre. / Source: Dnevnik/

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