Slovenia's Petrol deems fuel price cap increase insufficient

It is still impossible to cover the costs associated with the retail sale of petroleum products in Slovenia and the price cap still harms the company's business, Petrol said in a filing with the Ljubljana Stock Exchange on Thursday.

On February 27, the government lifted the regulated profit margin for the retail sale of diesel to 0.0783 euro ($0.0865) and of 95-octane petrol to 0.0794 euro per litre.

Petrol requested the country's constitutional court in December to review the government's decision to decrease profit margins on certain petroleum products deeming it unfair and directly harming its business. The changes lead to a disproportionate pressure on Petrol's operations and forces it to reduce the funds available for investments in energy transition, the company said back then.

On November 30, the Slovenian government established a revised maximum allowable margin for unleaded petrol at 0.0694 euro per litre, marking a 30% decrease compared to the rate of 0.0994 euro per litre before the decree amendment. The margin on diesel was set at 0.0683 euro per litre, down by 31%.

($ = 0.9248 euro)