Fuel Prices Jump 22% in Bulgaria, Among EU's Biggest Increases

Fuel prices in Bulgaria recorded one of the largest annual increases in the European Union in July, with the cost of fuels and lubricants for personal vehicles rising by 22.2 percent compared with the same month last year, according to Eurostat data reported by BTA.

Across the EU, fuel and lubricant prices increased by 16.9 percent year-on-year in July. The annual rate of increase has slowed from 20.7 percent in May and 13.7 percent in June.

Fuel prices were higher in July than a year earlier in 25 of the 27 EU member states. In 13 countries, the annual increase accelerated compared with June. At the same time, the July increase was lower than the rate recorded in May in 24 EU countries. In May, four countries had recorded annual increases of more than 30 percent.

Romania posted the largest annual increase in the EU in July, at 24.2 percent. Germany and Lithuania followed at 22.9 percent each, while Bulgaria ranked fourth at 22.2 percent. The Netherlands recorded a 22.0 percent increase and Finland 20.5 percent.

At the other end of the scale, fuel prices in Hungary edged down by 0.1 percent year-on-year. Sweden recorded an increase of just 1.2 percent, while Ireland saw prices rise by 3.2 percent.

The month-on-month figures show that fuel prices also picked up across the EU in July. Diesel prices increased by 4.3 percent from June, while gasoline prices rose by 4.7 percent. This marked a reversal from June, when diesel had fallen by 6.4 percent and gasoline by 4.2 percent compared with May.

Diesel prices increased between June and July in 17 EU countries. Poland recorded the sharpest monthly rise at 13.4 percent, followed by Germany at 12.7 percent and Greece at 12.1 percent.

Diesel became cheaper in nine EU countries. The largest monthly declines were recorded in Cyprus, where prices fell by 7.9 percent, Sweden, down 7.4 percent, and Ireland, down 6.4 percent.

Gasoline prices rose in 14 EU countries and declined in 12. Poland again recorded the largest increase, at 17.2 percent, followed by Germany at 11.0 percent and Spain at 7.1 percent.

The most significant monthly falls in gasoline prices were recorded in Sweden, where they dropped by 11.1 percent, followed by Cyprus with a 5.4 percent decline and Ireland with a 4.1 percent decrease.