The Commission for Protection of Competition (CPC) has adopted a package of 23 anti-crisis measures for the fuel market following a preliminary investigation launched in March due to the global oil crisis and the worsening situation in the Middle East, the regulator said.
According to the Commission, the measures were prepared based on an analysis of the market, the ongoing proceedings against the Lukoil group for possible abuse of a dominant market position, as well as two completed proceedings against the company. The report will be sent to the Council of Ministers, the National Assembly, and involved institutions.
The regulator says that the investigation analyzed the markets for fuel production, imports, storage, and wholesale and retail fuel trade, as well as the actions of the caretaker government. According to the main conclusion, the state delayed, rather than prevented, the “price spiral” in fuel prices.
The Commission said that an intervention through a special administrator for Lukoil led to a discrepancy between wholesale prices and the prices at the company’s gas stations, creating risks for small traders, producers, and importers. The regulator noted that following the commission’s intervention in April, this practice was discontinued.
Among the proposed measures is the creation of a task force under the Council of Ministers, involving institutions and industry representatives, to monitor fuel supplies, prices, storage levels, and the risk of fuel shortages. The proposal also includes the introduction of a weekly official fuel index with public information on international quotations, prices, trade margins, and stock levels in order to increase market transparency.
The package also includes stricter oversight across the entire supply chain, from production and imports to retail trade, as well as the preparation of a continuity plan for refinery operations and diversification of crude oil supplies. Additional proposals include targeted support schemes for the automotive transport sector, agriculture, fisheries, and fertilizer production through compensation for part of their fuel and raw material costs.
Among the stabilizing measures are financial instruments to ensure liquidity and guarantees for critical supplies, the possibility of extending the postponement of toll fee increases during periods of strong price pressure, and the creation of a temporary fuel stabilization fund financed through additional VAT revenues.
The Commission also proposes temporary mechanisms against speculative price increases, changes to the requirements for biofuel components and excise tax rates during prolonged price pressure, as well as a compensation mechanism at the producer or importer level with traceability throughout the entire supply chain.
Long-term measures include reforming access to tax warehouses, expanding storage capacity, incentives for new market participants, and steps to reduce dependence on fossil fuels through the electrification of transport and improved energy efficiency for businesses.
The regulator noted that the Commission for Protection of Competition continues its work on the ongoing proceedings against the Lukoil group, while simultaneously carrying out continuous monitoring of the fuel market.
In March, the Commission requested detailed information from Lukoil Neftochim Burgas and Lukoil Bulgaria, as well as from the other major companies in the wholesale fuel market, in connection with the ongoing proceedings against the Lukoil group for possible abuse of a dominant market position.