Commodities market

Oil prices have marked a decrease on international markets following the agreement reached Thursday upon the Iran nuclear program.

Analysts, however, have stated that they prognose a gradual decrease as opposed to a sudden shift in oil prices after Iran enters world markets once again, Dnevnik daily reported.

“The price of oil will hit its floor and it will rise again,” President Nicolas Maduro assured Venezuelans, whose shaky economy depends critically on a high oil price. “Venezuela will continue with its social plans. Venezuela will move forward.”

By Chryssa Liaggou

Consumers are benefiting from the decline in global oil prices as retail rates for gasoline, diesel and heating oil have dropped considerably in recent weeks.

There is a lack of competitors in energy trade on the liberalized energy market, the Bulgarian energy watchdog DKEVR warned Tuesday.

Trade to household consumers is where the biggest insufficiency has been registered, the website Dariknews quoted the regulator's chair Svetla Todorova as saying at a DKEVR meeting.

The world will see much weaker oil demand growth in 2015 than forecast previously, the International Energy Agency said on Tuesday, adding that oil prices may drop further.

The European Commission has recommended that Bulgaria abolish regulated electricity prices in a report on the internal energy market.

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The distribution of heating oil to homes in Greece will begin on Wednesday.

As a result of the 30 percent reduction in the special consumption tax, heating oil will be available at lower prices than last year.

It is expected that 1 liter of heating fuel will cost around 1.05 euros per liter, compared to 1.28 euros per liter a year ago.

Crude oil prices that saw their lowest since June 2012 this week recovers slowly, as Middle Eastern tensions remain as a potential element for an upward trend despite the high output habitat

An increase in gas prices from October 1 is to dominate the energy regulator DKEVR's agenda on Tuesday.

The watchdog's session comes as state-owned gas company Bulgargaz has demanded a 1.6-percent hike.

Fuel prices in Bulgaria might drop, reports the Nova TV national channel.

According to experts, the prices of petrol and diesel fuels might decrease by 10%, due to drop of crude oil prices at global markets. 

Prices haven't been lower in the past 14 months. 

According to Nova TV, in some petrol stations across Bulgaria the lower prices are already a fact.