Energy economics

Balkan Drivers Fuming Over Rising Cost of Fuel

Car owners in the Balkans are fuming over the rising price of fuel and threatening to protest this month, piling pressure on governments to rein in costs to consumers who fear a knock-on effect on the price of food and other goods.

Oil prices hit three-and-a-half year highs last month, twice topping $80 per barrel and pushing up prices at fuel pumps.

Romania's EU Council presidency to pay more attention to energy sector

Minister-delegate for European Affairs Victor Negrescu attended the seventh edition of the Romanian Energy Day international conference in Brussels on Tuesday, where he said that the Romanian presidency of the Council of the European Union will pay more attention to the energy sector and will act towards achieving the objectives of the Energy Union.

Decline in Peteroleum Prices Because of the Increase in US Reserves

The price of oil fell during the Asian session after the reported surprise growth in US stocks. Impacts also came from expecting Organization of the Petroleum Exporting Countries and other manufacturers to decide if they will increase their production at the June meeting, Reuters reported.

Oil Prices Continue to Rise

Oil prices continue to rise in international markets, BNR reported. Northsea Brent exceeded $ 80 a barrel for the first time since the end of 2014.

If the trend persists, the appreciation of the black gold will also lead to higher prices of gas, steam and hot water in Bulgaria since July, warned the state regulator a few days ago, added the National Radio.

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