UKRNAFTA, Ukraine’s largest network of gas stations, doubled its fuel purchases in 2026 compared to last year to ensure stability for farmers during the planting season, the company’s CEO Bohdan Kukura told the Interfax-Ukraine news agency.
“We have received the first shipments of diesel from the United States. The government’s task was to ensure (the domestic market – IF-U) that there would be no shortage. We are fulfilling this: given the season and increased demand, we have purchased twice as much fuel as before. There will be no shortage. We are fully contracted, and we do not foresee any problems at all for April,” the company’s head emphasized.
According to him, in response to the government’s request, UKRNAFTA began using post-import financing instruments for the first time in its history. The first shipments of American fuel were purchased using credit lines from the state-owned Ukrgasbank and Oschadbank. The top manager noted that this mechanism has been in operation for only about a month but has already proven effective in ensuring energy security.
The CEO also explained that, given market volatility, UKRNAFTA has abandoned fixed-price contracts, as they are unprofitable for suppliers due to the inability to predict risks. Currently, work with clients is based exclusively on a “contract formula” tied to global Platts or Argus price indices.
Separately, Kukura commented on the sales structure: the share of retail customers (B2C) is about 50–70%, while the corporate segment (B2B cards and vouchers) accounts for 30–50%. He noted that farmers typically purchase fuel through small-scale wholesalers.
As the chairman of the UKRNAFTA board assured, thanks to strategic reserves and new logistics, there is no cause for panic. The company continues to actively work with banks, creating “effective solutions to supply the market,” so Ukrainian businesses can be confident in the availability of fuel at gas stations.
As reported, by the end of 2025, UKRNAFTA increased fuel sales in the B2B segment to 391.6 million liters, which is 61.7% more than the previous year’s figure and nearly eight times higher than the 2023 result. The number of active corporate clients during this period tripled—to 9,700 companies. Over three years, the company doubled the average daily fuel sales per gas station, and the average receipt at the network’s stores tripled—to 180 UAH.
UKRNAFTA is one of the largest gas station networks in Ukraine, comprising approximately 700 locations and ranking among the top three in terms of fuel sales volume. The network structure includes the assets of Glusko (85 gas stations) and Shell (118 gas stations). Additionally, 21 complexes of Ukrgazvydobuvannya (U.Go) operate under the UKRNAFTA brand on a franchise basis.
UKRNAFTA was the first to join the government’s fuel cashback support program.
Starting today, at all 660 gas stations in the network, customers will be able to receive:
15% cashback on diesel;
10% on gasoline;
5% on LPG.
Funds will be credited to a card registered in the state “National Cashback” program.
The maximum cashback amount for fuel is up to 1,000 UAH per person per month.
Accrued funds can be viewed in the Diya app. Payments are made by the end of the month following the purchase.
Fuel cashback is part of the government’s support for Ukrainians in response to rising oil prices due to hostilities in the Middle East.
The program will run until May 1.
JSC “Ukrnafta” is Ukraine’s largest oil producer and operates the country’s largest national network of gas stations—UKRNAFTA. In 2024, the company entered into an asset management agreement with Glusco. In 2025, it finalized a deal with Shell Overseas Investments BV to purchase the Shell network in Ukraine. In total, it operates 660 gas stations.
The company is implementing a comprehensive program to resume operations and modernize the format of gas stations in its network. Since February 2023, it has been issuing its own fuel vouchers and “NAFTACard” cards, which are sold to legal entities and individuals through Ukrnafta-Postach LLC.
The largest shareholder of Ukrnafta is Naftogaz of Ukraine with a stake of 50% plus one share.
In November 2022, the Supreme Commander-in-Chief of the Armed Forces of Ukraine decided to transfer to the state the share of corporate rights in the company that belonged to private owners, which is now managed by the Ministry of Defense.
The Romanian government has approved an emergency decree declaring a state of emergency in the oil and petroleum products market for the period from April 1 to June 30, 2026, and has introduced a package of measures to protect the economy and the population. The key measure involves price controls through restrictions on commercial markups. The maximum aggregate markup across the supply chain for gasoline, diesel, and certain raw materials used in their production is capped at 50%, and penalties ranging from 0.5% to 1% of a company’s annual turnover are imposed for exceeding these limits.
Romanian authorities explain that the emergency measures are being introduced amid rising global oil prices, increased insurance and logistics risks, and the country’s high dependence on imports.
As of March 27, fuel prices in Bucharest were:
gasoline: 9.19–9.23 lei per liter (about 1.85–1.86 euros);
diesel fuel: 10.26–10.36 lei per liter (about 2.06–2.08 euros).
Economist Adrian Negrescu warned that if external pressure persists, prices for premium diesel could rise to 12–13 lei per liter (about 2.4–2.6 euros).
Prices for all types of fuel rose by 1–3 UAH/liter on Friday compared to Thursday; against this backdrop, PJSC “Ukrnafta” lowered the price of A-95+ by 3 UAH/liter, bringing it in line with A-95, according to data monitoring on websites and in network apps conducted by the “Energoreforma” internet portal.
According to the data, three of the surveyed gas station chains raised diesel fuel prices by 3 UAH/liter: Socar, WOG, and UPG, with the first two currently selling diesel at 84.99 UAH/liter and diesel+ at 87.99 UAH/liter. The same price applies at OKKO, which brought its prices in line with this level by raising them by 2 UAH/liter. UPG lists prices of 82.9 UAH/liter and 85.9 UAH/liter, respectively.
State-owned “Ukrnafta,” following a 2 UAH/liter increase in diesel prices, has a diesel price of 77.99 UAH/liter and diesel+ at 81.99 UAH/liter, which is the lowest among the surveyed networks.
The price of gasoline increased by 1 UAH/liter at OKKO, by 2 UAH/liter at WOG, and by 3 UAH/liter at Socar and UPG, but UPG’s price remains the lowest among private chains. Meanwhile, the state-owned “Ukrnafta” left the price of A-95 unchanged and reduced the price of A-95+ by 3 UAH/liter. For both types of fuel, it stands at 68.99 UAH/L.
Fuel prices (averages) as of March 20 compared to March 19 (based on monitoring by “Energoreforma” of network websites and apps*).
*Not all gas stations provide up-to-date prices on their websites and in their apps
As reported, at the beginning of last month, Serhiy Kuyun, director of the consulting firm A-95, predicted that diesel fuel prices would rise to 80 UAH/liter by the end of the month and noted the conditions for a further increase to 90 UAH/liter. At the same time, he indicated that he does not believe diesel fuel will reach 100 UAH/liter. According to him, since price spikes have affected many countries, the global economy cannot sustain such prices, and every effort will be made to offset the increase. He added that gasoline prices will rise only slightly.
Farmers currently have sufficient fuel reserves for the planting season, enough to cover their needs for three to six weeks, said Oleksiy Sobolev, Ukraine’s Minister of Economy, Environment, and Agriculture.
“Regarding the planting season. We now know that both diesel and fuel are secured for the planting season. We have consulted with the market—fuel reserves are sufficient for three to six weeks,” he said during “Government Hour” in the Verkhovna Rada on Friday, according to a correspondent for the Interfax-Ukraine news agency.
“We will continue to monitor the situation,” the minister added.
As reported, some experts suggested that problems with oil and petroleum product supplies to the market caused by the war between Israel and the U.S. against Iran could lead not only to a significant increase in the price of petroleum products but also to shortages in certain segments, primarily diesel fuel.
The escalation of the war around Iran has already gone beyond a regional conflict and has become a factor in global inflation. On March 9, Brent rose above $119 per barrel intraday, its highest level since 2022, and IMF chief Kristalina Georgieva warned that a sustained 10% increase in oil prices could add about 0.4 percentage points to global inflation. The scale of the risk is also explained by logistics: in 2024, about 20 million barrels of oil per day passed through the Strait of Hormuz, which is approximately 20% of global liquid hydrocarbon consumption.
For Ukraine, the fastest channel for transmitting such a shock is the fuel market. After losing a significant part of its own refining capacity, the country relies on imports: in 2024, Ukraine imported about 1.2 million tons of gasoline, and in January-September 2025, imports of petroleum products reached 5.67 million tons. Even before the current price surge, the market remained sensitive to logistics and external conditions: The NBU noted an acceleration in the growth of prices for gasoline, diesel, and liquefied gas due to supply disruptions, and Reuters reported that in January 2026, gasoline imports grew by 70% year-on-year due to a shortage of domestic production. This makes gasoline, diesel, and autogas the most likely first group of goods to react to a protracted oil shock.
“If the conflict around Iran drags on, Ukraine will feel it almost immediately through rising fuel costs, and then through higher logistics, import, and food prices. For our economy, this is not only an external shock, but also additional inflationary pressure on the domestic market,” says Maksim Urakin, founder of the Experts Club analytical center and candidate of economic sciences.
The second vulnerable group is imported products with long logistics and a high share of transport costs. In 2025, Ukraine increased its imports of agri-food products by 13% to $9.12 billion, with the EU’s share exceeding 53.9%. The largest items in the procurement structure were fruits, berries, and nuts ($1 billion), fish and seafood ($999 million), alcoholic and non-alcoholic beverages ($870 million), cocoa products ($640 million), coffee, tea, and spices ($471 million), and vegetables ($467 million). It is these categories — from bananas and citrus fruits to coffee, chocolate, and seafood — that are most sensitive to increases in freight, fuel, refrigerated logistics, and dollar-denominated commodity prices.
“Consumers will feel the price increases most noticeably where there is a large share of imports and transportation costs. First and foremost, this concerns fuel, coffee, chocolate, fish, seafood, and fruit, and a little later, goods whose prices include more expensive fertilizers, gas, and packaging,” Urakin noted.
The third risk area is fertilizers and then Ukrainian-produced food. There has already been an increase in prices not only for oil and gas, but also for sugar, fertilizers, and soybeans following the escalation around Iran. At the same time, European gas prices jumped by 35-40% in early March, and the EU convened a coordination group on gas supplies. This is doubly sensitive for Ukraine: the NBU previously estimated the need for gas imports in 2026 at $1.1 billion after $2.9 billion in 2025, and fertilizer imports in 2025 rose to 3.285 million tons.
According to GIZ estimates, Ukraine’s dependence on nitrogen fertilizer imports has already exceeded 60%. This means that if oil and gas prices remain high for a long time, in a few months the pressure may shift to the cost of grain, greenhouse vegetables, milk, meat, and other food products.
Products linked to petrochemicals and metals deserve special mention. Oil is a basic raw material for a wide range of chemical products, and Reuters has already noted that aluminum prices have risen to a four-year high amid the current conflict. This increases the risk of price increases for plastic packaging, household chemicals, paints, certain types of cosmetics, tires, PVC materials, and some construction products. The same applies to bitumen, a direct petroleum product, whose imports to Ukraine, according to industry estimates, will remain significant in 2026.
The currency factor could be an additional amplifier. Against the backdrop of the war, investors are turning to the dollar as a safe haven asset. This is important for Ukraine because oil, gas, coffee, cocoa, fertilizers, and a significant portion of other imports are denominated in dollars, and the EU remains the country’s largest trading partner, accounting for more than 50% of trade in goods. Even without a physical deficit, this increases the risk of more expensive imports in hryvnia.
However, not all goods will react equally quickly. Basic products, where Ukraine remains a major producer — primarily wheat, corn, and sunflower oil — are less dependent on immediate imports, and the wheat and corn harvest in 2025 turned out to be better than early expectations.
Therefore, in the short term, fuel, imported fruits and seafood, coffee and chocolate, fertilizers, chemicals, and some construction materials are likely to see the sharpest price increases. But if the energy shock drags on, the rise in logistics costs will almost inevitably begin to seep into the prices of Ukrainian-made goods.
Source: https://expertsclub.eu/vijna-v-irani-pidnime-cziny-na-palyvo-ta-import-analiz-tovariv/
