Business news from Ukraine

Ukraine will raise fuel prices – expert

Ukraine plans to raise fuel prices, the former head of the Ukrainian Gas Transmission System Operator Serhiy Makohon said.
“There are plans to increase fuel tariffs. Gasoline – up to 58 UAH, diesel – up to 53 UAH,” Makogon wrote on Facebook on Friday morning.
According to him, this is inevitable due to the need to fill the state budget and reduce currency outflows.
“Right now gasoline/diesel/LPG is 100% imports. Why not allow people and businesses that have HBO on methane to fill up with methane, which costs 25 UAH at the gas stations and does not require currency, because it is produced in Ukraine,” – he said.
According to him, “to do this, the Cabinet of Ministers of Ukraine should simply oblige “Naftogaz” (through the ownership policy as the owner) to open a state network of CNG filling stations.


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.



The Ministry of Economy of Ukraine announced the average cost of gasoline at UAH 26.64 per liter and diesel fuel at UAH 22.25 per liter, on which the fuel selling price caps at filling stations at the end of July is based.
Thus, taking into account the trade markups, the price cap for “ordinary” gasoline for its sale through the filling station network shall not exceed UAH 31.64 per liter and for “ordinary” diesel fuel – UAH 29.25 per liter.
Compared to the middle of the month, the average price for gasoline fell by UAH 0.23 per liter, for diesel fuel – by UAH 0.35 per liter.

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Average retail prices for petrol and diesel fuel in Ukraine in the period from November 30 through December 7, 2018 fell by 1.99-2.81%, while prices of LPG by 4.24%, according to data from the A-95 Consulting Group (Kyiv).
As reported, in 2017, average retail prices for petrol in Ukraine increased 19.2-20.1% (UAH 4.61-4.76 per liter), and for diesel fuel 22.6% (UAH 4.84 per liter). At the same time, average prices for liquefied petroleum gas (LPG), despite a sharp increase in August due to deficit, showed an increase of only 2.9% for the year (by UAH 0.36 per liter).
Changes in average retail fuel prices UAH per liter in Ukraine:

©Source: A-95 Consulting Company