Gas Prices In Bulgaria Two Times Higher Than In Austria

Currently, the prices at which Bulgaria buys gas under its long-term contract with Russia’s Gazprom are twice as high as those on the Austrian stock exchange. This was announced by the chairman of the Balkan and Black Sea Petroleum Association Valentin Kanev, BNR reported. The differences come from the fact that Bulgaria imports and consumes gas at prices, under contracts for labor, while the determining factor in the prices for the Western countries is flexible supply through hubs, as well as factors such as supply and demand. , which has helped drive down gas prices for hubs in the West,” Kanev explained.

Unlike gas, the prices of gasoline and diesel in Bulgaria are the lowest in the European Union, said Svetoslav Benchev of the Bulgarian Oil and Gas Association. They will remain at their current levels until at least the end of the year.