Business news from Ukraine


30 May , 2022  

The current price of gasoline at 52-55 UAH/liter and diesel fuel at 58-60 UAH/liter is the equilibrium point for the market, but with the gradual arrival of new volumes of oil products, the price for them will decrease, the director of the A-95 consulting group believes Sergey Kuyun.
“With prices of UAH 52-55/liter for gasoline and UAH 58-60/liter for diesel fuel, as I see it, the market feels normal, queues are decreasing. To some extent, the market has found a balance point, and then it will begin to fill with new batches, and this should lead to lower prices,” he said at a briefing at the Media Center in Kyiv on Monday.
At the same time, Kuyun noted that the price of fuel at 40-45 UAH per liter, which was determined during state regulation, was fair for a stable, secure market, “which we do not have today.”
“Accordingly, we need to reduce consumption, bring down the hype,” the expert said.
As reported, according to the A-95 group, the average retail prices for gasoline and diesel fuel in Ukraine increased by 22-30% in the period May 16-23, in particular, the average retail prices for A-95 gasoline increased by 10%. 72 UAH/liter, up to 50.84 UAH/liter, premium A-95 – by 9.85 UAH/liter, up to 51.51 UAH/liter.
In addition, retail prices for diesel fuel increased by UAH 13.24/liter, up to UAH 56.49/liter, for liquefied gas, by UAH 4.14/liter, up to UAH 39.24/liter.
By Resolution No. 594 of May 17, 2022, the Cabinet of Ministers suspended the state regulation of fuel prices introduced a year ago due to quarantine, expecting that gasoline prices would not exceed UAH 52/liter, diesel fuel – UAH 58/liter.
The decision to cancel the maximum margin for gas stations was made so that market operators could saturate the Ukrainian oil market with the necessary resource in the face of its shortage after reorienting to supplies from the western border and the Kremenchug refinery bombed by Russia.
At the same time, the State Service for Food Safety and Consumer Protection announced the start of inspections of gas stations based on consumer complaints about inflated prices, refusal to pay with cards and the absence of settlement documents.