Slovenia requires biofuels to be added to fuel

On July 1, Slovenia implemented the Renewable Transport Fuels Act, which requires fuel dealers to add biofuels to regular fuel.

Pursuant to this decree, the Slovenian Government has also amended the rules for calculating the pricing of petroleum products so that fuel pricing models take into account the addition of biofuels.

According to the new fuel pricing rules, the fuel price of biofuels is added, which is superimposed by the original oil fuel price and the price of biofuels. The price of petroleum fuels continues to be based on the current pricing algorithm, which uses the 14-day average price to determine the base price based on the price trends of petroleum products in the global market and the exchange rate movements of the US dollar and the euro.

The Slovenian news Agency reported that the government's move aims to guide the country's fuel consumption and promote green environmental protection and social sustainable development.

According to data released by the Slovenian Ministry of Economic Development and Technology, once biofuels are added, gas and diesel fuel prices will increase compared to the trend in 2016 and early 2017, which may also lead to a decrease in fuel sales.