Petrol has Complied with the Regulation of Petroleum Product Prices and will Endeavour to Continue Ensuring a Stable Supply of Fuel as set in its Business Plan
The Government of the Republic of Slovenia adopted a Decree on Setting Prices for Certain Petroleum Products on 14 March 2022 in which it determined the maximum retail prices of petroleum products for a period of 30 days. At Petrol d.d., Ljubljana, we have complied with this regulation and today adjusted the prices of motor fuels in our retail network. We will continue to make every effort to ensure a stable supply of fuel for our customers. Likewise, we will provide for the sustainability of Petrol d.d., Ljubljana’s operations to the benefit of all stakeholders – suppliers, employees, and owners.
The abovementioned government measure has increased the relative competitiveness of fuel prices in Slovenia compared to its neighbouring countries (except Hungary) where prices of fuel are higher by approximately EUR 0.30–0.69 per litre. As a result, Petrol d.d., Ljubljana has already recorded increased demand for fuels not only by Slovenian, but also by foreign customers (especially in state border areas). Petrol d.d., Ljubljana will endeavour to ensure uninterrupted supply of motor fuels as set in its business plan for 2022.
For 2022, Petrol d.d., Ljubljana has long-term purchase contracts for petroleum products ensured in a volume which reflects the current dynamic of mobility increasing to pre-Covid-19 levels, such as determined in the business plan for 2022. As a result of the situation in Ukraine and related intensified security situation, delays in supply chains have been recorded, but we can confirm that all supplies of petroleum products the company has planned for March have been confirmed.
In terms of risk management, an important factor in contributing to Petrol d.d., Ljubljana's stable supply of fuel in the future is the fact that the company does not depend on Russia in this field, as the latter accounts for a negligible share in the company’s supply of fuel. In 2021 and the first two months of 2022, Russia as a source of supply has accounted for less than 7% as regards Petrol d.d., Ljubljana’s middle distillates (diesel and extra light heating oil), and as for petrol, we do not import it from Russia.
At Petrol d.d., Ljubljana, we keep a close eye on events in the business environment and will take the necessary measures to protect the interests of the company in the future.