Bulgaria currently has sufficient reserves of motor fuels and raw materials to cover normal domestic consumption for more than three months, Deputy Finance Minister Stanimir Mihaylov told lawmakers during an extraordinary sitting of the National Assembly on March 10. The hearing was convened to assess the country's preparedness after the crisis triggered by the blockade of the Strait of Hormuz, which has raised concerns about global energy supplies. According to Mihaylov, as of that date the available quantities of gasoline, gas oil and kerosene in storage, together with raw materials intended for refining, are enough to meet the country's typical consumption for a period exceeding 90 days.

The emergency parliamentary session was held at the request of the Movement for Rights and Freedoms (DPS), with MPs seeking clarification on the government's readiness to guarantee fuel supplies for households and industry and on potential measures to counter a possible price shock. Acting Finance Minister Georgi Klisurski was unable to attend due to a foreign trip between March 8 and March 10, parliamentary speaker Raya Nazaryan informed the chamber, which is why Mihaylov appeared instead. The agenda also included hearings with Customs Agency Director Georgi Dimov, State Reserve and Wartime Stocks Agency head Assen Assenov, and the special manager of Lukoil Neftochim Burgas, Rumen Spetsov.

Before the debate on fuels began, MPs swore in the newly appointed Minister of Regional Development and Public Works, Nikolay Naydenov, who took over the post after the resignation of Angelina Boneva. The sitting then continued with declarations from parliamentary groups marking the . The debate briefly escalated into a political clash when "Revival" leader Kostadin Kostadinov accused BSP politician Nataliya Kiselova of defending foreign interests, specifically Israel, calling it a form of national betrayal. Representatives from GERB, BSP, Revival, ?We Continue the Change-Democratic Bulgaria,? DPS and ?There Is Such a People? also delivered statements during this part of the session. Later, at the initiative of DPS-New Beginning, the parliament decided the hearing on the fuel situation would be broadcast live on Bulgarian National Television.

Addressing the chamber, Mihaylov said the discussion between the legislative and executive authorities should focus on protecting society and ensuring stability amid the geopolitical turmoil affecting energy markets. He reminded MPs that a decision adopted by parliament on October 31, 2025 introduced a temporary restriction on the export and intra-EU supply of petroleum products from Bulgaria, a measure the government considers particularly important under the current circumstances. In addition, by order of Prime Minister Andrey Gyurov issued on March 10, 2026, an interdepartmental working group has been established under the Council of Ministers to monitor the situation.

The group is chaired by the prime minister and includes the ministers of finance, economy and industry, energy, defence and interior, as well as representatives of the security services, the Commission for Protection of Competition, the Customs Agency, the National Revenue Agency and the special representative of Lukoil Neftochim Burgas. Its main tasks are to conduct daily monitoring of crude oil deliveries, national stocks of petroleum products and the reserves maintained under the Oil and Petroleum Products Stocks Act, to track fuel prices on a daily basis, and to develop measures to counteract the increase in prices caused by the Middle East crisis.

Mihaylov explained that the Ministry of Finance has also assigned the Customs Agency and the National Revenue Agency to carry out continuous monitoring of crude oil imports and the available fuel quantities in the country. These institutions must submit weekly reports together with the ministry's Tax Policy Directorate and propose compensation measures for businesses and households if international oil prices surge and begin to significantly affect the domestic market. The ministry has already prepared an analysis examining both the role of the Customs Agency in administering excise duties and supervising the movement of excisable goods, and the short-term link between global oil prices and retail fuel prices in Bulgaria.

According to official statistics from the National Statistical Institute, the average monthly quantity of gasoline, diesel and liquefied petroleum gas sold by traders with at least five outlets in 2025 was roughly 200 million tons. The supply chain currently includes 106 registered tax warehouses operated by companies handling energy products before they are released for consumption in the country. Their combined storage capacity significantly exceeds monthly domestic demand, meaning that if required, companies could maintain stocks covering consumption for a period longer than the legally required 90 days. Customs data confirms that the available reserves and storage facilities as of March 10, 2026 are capable of guaranteeing normal consumption for at least that period.

Mihaylov also addressed the impact of global oil price movements on domestic fuel costs. In his assessment, a one-percent rise in crude oil prices typically results in an average increase of about 0.8 percentage points in retail fuel prices in Bulgaria. For instance, if oil prices rise by 10 percent, the average price of A95 gasoline could increase from 1.29 euros per liter to about 1.36 euros during the current month. Diesel, currently around 1.34 euros per liter, could rise to 1.41 euros in the same period and potentially reach 1.45 euros in the second month after the international increase. Nevertheless, he noted that Brent crude had recently stabilized at around 88 to 90 dollars per barrel. Despite the volatility on energy markets, the government does not expect the situation to worsen the outlook for real GDP growth in 2026, although higher inflation may push nominal GDP slightly above earlier projections.

Customs Agency Director Georgi Dimov confirmed that his institution has begun daily monitoring of global oil markets and domestic fuel prices. If sharp changes occur in supply chains or prices, authorities will introduce measures to reduce the negative consequences for businesses and consumers. Dimov stressed that the agency's control mechanisms and oversight of excise goods allow it to guarantee market stability, protect consumers and ensure predictable conditions for companies operating in the fuel sector.

Rumen Spetsov, the special manager overseeing Lukoil Neftochim Burgas, added that the refinery's crude oil processing needs for March are fully secured and a delivery schedule has already been prepared for April. At present there is no information that suppliers intend to cancel deliveries, although delays have been reported. Spetsov explained that after the appointment of a special manager, the former holding structure Litasko no longer operates above the Bulgarian market entities. As a result, four separate trading companies now operate independently in Bulgaria, each managing its own budget and purchasing oil on market principles, including the Burgas refinery itself.

Spetsov warned that the blockade of the Strait of Hormuz is causing major logistical problems worldwide. More than 800 ships are currently stuck in the area, including about 300 oil tankers, another 300 vessels transporting refined products and the rest carrying gas. Under such conditions, even when oil can be bought at a favorable price, transportation may become the main obstacle. He also explained that the Burgas refinery was originally designed to process Russian Urals crude, and sanctions have made that supply unavailable. To compensate, operators now blend around six different types of oil to replicate the required characteristics and maintain fuel quality. This diversification of sources increases costs and accelerates wear on refinery equipment, shortening the intervals between planned maintenance.

Despite the technical and logistical difficulties, Spetsov assured lawmakers that all planned deliveries for March are expected to arrive and that the refinery will continue producing fuel that meets quality standards. The situation for April will depend largely on the evolution of the military conflict affecting global shipping routes and whether existing contracts are honored. He also noted that, according to current comparisons, fuel prices at Lukoil gas stations remain among the lowest offered by traders in the Bulgarian market.