LJUBLJANA, June 30 (Xinhua) -- Bio-component will be introduced to Slovenia's nation-wide fuel pricing model from July 1, 2017, to promote green energy consumption and social sustaining development.
The Slovenian government has amended the decree on the setting of regulated prices of petroleum products to introduce changes in the calculation of the modelled price which take into account the bio-component in fuel.
According to the Slovenian Press Agency (STA), the changes are based on the decree on renewable energy sources in transport, which will take effect on Saturday, and which stipulates that distributors need to add biofuel to standard fossil fuels.
Since the prices of regular petrol and diesel at filling stations outside the motorway network are still regulated, the price of biofuel needs to be taken into account in the calculation of the price of the two most widely sold fuels, said the STA report.
The modelled price of petroleum products in euros per litre will be calculated under the same model as now, while the bio-component that will be calculated separately for petrol and diesel will be added to this price.
The pricing methodology is based on trends of prices of petroleum products on the global market and trends in the U.S. dollar and euro currencies, while modelled prices are calculated on the basis of 14-day averages.
According to the Economic Development and Technology Ministry, compared to the trends in 2016 and the beginning of 2017, the prices of regulated petroleum products are expected to increase once the bio-component is included.
The ministry expects that the change will result in lower sales of fuel, which would mean lower budget revenue by up to 8.5 million euros (9.7 million U.S. dollars) in the second half of 2017 and up to 20 million euros in 2018. (1 Euro = 1.14 U.S. dollars)
