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[size=55:34kkg2gt]Sofia echo
Bulgaria's fuel prices soar on global oil shocks
The impact of the sharp rise in global oil prices, prompted by the political unrest in the Middle East and North Africa, has spread to Bulgaria over the past month, with fuel prices at local petrol stations increasing by 10 stotinki a litre.
Since the beginning of the year, fuel prices have grown by between 20 stotinki and 30 stotinki, or about 10 per cent, on average to between 2.40 leva and 2.60 leva a litre.
Bulgarian fuel prices have now surged to their highest level in the past two years, nearing the record rates seen in the summer of 2008, when global oil prices stood at over $147 a barrel.
On February 24, brent crude prices continued to trend higher on the international markets, hitting $119 a barrel before falling back to $115.
The rise in fuel prices is affecting most severely the transport and agriculture sectors in Bulgaria and has made some the companies increase the prices of their products and services, according to a survey by Dnevnik.
Economists, however, said that the higher fuel prices would not lead to a rise in inflation and projected that the price shock would be temporary.