Petrol Complies with the Regulation of Petroleum Product Prices

Petrol has announced that it will comply with the decree for the regulation of petroleum product prices, will also endeavor to ensure a stable supply of fuel as set in its business plan.

On 14 March 2022, the Government of the Republic of Slovenia adopted a decree on setting prices for certain petroleum products, in which, they set maximum retail prices of petroleum products for the period of 30 days. Following this, Petrol has announced its compliance with this regulation and has adjusted the prices of motor fuels in its retail network. The Company also said that it will continue to make every effort to ensure a stable supply of fuel for its consumers.

The above-mentioned govt. measure has increased the relative competitiveness of fuel prices in Slovenia compared to the neighboring countries (except Hungary) where prices of fuel are higher by app. EUR 0.30-0.69 per litre. Due to this, Petrol has already recorded an increase in demand for fuel by not only Slovenian but also by foreign customers. The Company will also endeavor to ensure an uninterrupted supply of motor fuels, which was already set in its business plan for 2022.

The Company also said that they have long-term purchase contracts for petroleum products ensured in a volume that reflects the current dynamic of mobility increasing to pre-COVID-19 levels. It is also noted that the situation in Ukraine has caused some delays in the supply chains, but all supplies of petroleum products the Company has planned for March have been confirmed.

Looking at the risk management, the Company noted that they do not depend on Russia in terms of a stable supply of fuel in the future, as it has a negligible share in the Company’s supply of oil. In 2021 and the first two months of 2022, Russia as a source of supply has accounted for less than 7% of Petrol’s middle distillates (diesel and extra light heating oil), and as for petrol, they do not import it from Russia.

The Company is actively monitoring the events in the business environment and has said it is ready to take the necessary measures to protect the interests of the Company in the future.

Category : Flash News

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