Bulgaria’s еnergy regulator said on Friday it has approved a 7.29% cut in the wholesale price of natural gas in the fourth quarter proposed by public gas supplier Bulgargaz.

As of October 1, wholesale gas prices will fall to 343.22 levs ($210.8/175.8 euro) per 1,000 cubic metres, the Energy and Water Regulatory Commission said in a statement, according to Seenews.com.

Bulgarian energy regulations require gas prices to be set quarterly, taking into account global oil prices and the lev/dollar exchange rate.

Bulgaria imports almost all the natural gas it needs from Russia through a pipeline crossing the territories of Ukraine, Moldova and Romania.