Business news from Ukraine

AVERAGE RETAIL PRICES FOR PETROL AND DIESEL FUEL IN UKRAINE UP BY 22-30% OVER WEEK

The average retail prices for gasoline and diesel fuel in Ukraine increased by 22-30% from May 16 to May 23, according to the data of the A-95 consulting group (Kyiv).
Thus, the average retail prices for A-92 gasoline increased by UAH 8.93/liter – up to UAH 48.78/liter, A-95 – by UAH 10.72/liter, up to UAH 50.84/liter, premium A-95 – by UAH 9.85/liter, up to UAH 51.51/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.
As reported, by resolution No. 594 of May 17, 2022, the Cabinet of Ministers suspended state regulation of fuel prices introduced a year ago in connection with 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 resources in the face of their shortage after reorienting to supplies from the western border and Kremenchuk oil refinery bombed by Russia.
At the same time, the State Service on Food Safety and Consumer Protection announced the start of inspections of gas stations based on consumer complaints about inflated prices, refusal to accept payments with cards and the absence of settlement documents.

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UKRAINE EXPECTS START OF PETROL SUPPLIES FROM POLAND’S STATE RESERVE

From day to day Ukraine expects deliveries of gasoline from the state reserve of Poland, which were supposed to cover a quarter of consumption in May.
This was announced by First Deputy Minister of Economy of Ukraine Denys Kudin during the talk show “Ukrainian Petroleum Products Market: Temporary Crisis or Large-Scale Collapse?” organized by the Energy Club on Monday.
According to him, unlike diesel fuel, the volumes of gasoline imports into the country currently do not cover the volumes of its consumption.
“And here we are counting on the help of our European partners, in particular, the Polish state reserve, which promised to give us approximately a quarter of the consumption in May. We are expecting this supply from day to day,” Kudin said.
At the same time, according to him, the volume of imports of diesel fuel to Ukraine is currently 20% higher than the volume of its consumption.
“This is enough for the buyer, after standing in line, to be able to fill his tank, albeit with restrictions, but 20 liters, but not enough to remove the queue,” the first deputy economy minister said.
In his opinion, the reason for the preservation of queues at gas stations for buyers of diesel fuel is its low stocks from operators – 3-5 days of sale instead of the previous 15-20 days. At the same time, individual operators do work “from the wheels.”
Nevertheless, as the First Deputy Minister emphasized, in the first half of May, at a meeting with European partners on providing Ukraine with fuel, decisions were made that give Kyiv the opportunity to look to the future with optimism.
“However, you need to understand: the war continues, the enemy is systematically destroying our infrastructure … The enemy is destroying the railway, so we all need to be patient and gradually rebuild our consumption,” Kudin said.
According to the Ministry of Economy, Russian aggressors have destroyed 27 oil depots in Ukraine since the beginning of the war.
As reported, according to the updated forecast of the Ministry of Economy, consumption of 300,000 tonnes of diesel and 120,000 tonnes of gasoline is expected in May. The ministry noted that such a volume of imports has already been contracted by Ukrainian chains.

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RETAIL PRICES FOR PETROL IN UKRAINE DURING MAY HOLIDAYS GROW BY UAH 0.3-0.5 PER LITER

Average retail prices for petrol in Ukraine in the period from April 30 to May 11 grew by UAH 0.3-0.5 per liter, according to the data of the A-95 consulting group (Kyiv).
So, the average retail prices for petrol grade A-92 during the May holidays increased by UAH 0.31 per liter, to UAH 28.09 per liter, A-95 – by UAH 0.45 per liter, to UAH 29.10 per liter, premium A-95 – by UAH 0.47 per liter, to UAH 30.67 per liter.
In addition, retail prices for diesel fuel from April 30 to May 11 grew by UAH 0.07, to UAH 28.29 per liter, while prices for liquefied petroleum gas (LPG) fell by UAH 0.03 per liter, to UAH 15.77 per liter.
As reported, on April 2, the Cabinet of Ministers and most of the country’s large filling station networks signed a memorandum on the creation of fair competition in the petroleum product market, as well as on meeting the needs of consumers during the period of quarantine restrictions.
According to Interfax-Ukraine, before the signing of the document, representatives of the authorities were actively negotiating with large networks of filling stations, persistently offering them to lower the prices for petroleum products that have increased in recent months. In particular, they were advised to set a price of up to UAH 30 per liter for A-95 petrol. As a result, after the signing of the document, the chains dropped the price of petrol by UAH 0.2-1 per liter.
At the same time, during the May holidays, retail petrol prices have already won back this decline. On May 11, the Cabinet of Ministers, by resolution No. 450 dated March 29, 2021, introduced a declaration of an increase in retail prices for petrol and diesel fuel in excess of 1%. According to the document, petrol grades A-92 and A-95, as well as diesel fuel, are included in the list of socially important goods.

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AVERAGE RETAIL PRICES OF PETROL IN UKRAINE CHANGE OVER WEEK – A-95

The average retail price of petrol, diesel fuel and LPG grew by 1.8-2.5% from October 26 to November 2, according to Kyiv-based A-95 Consulting Group.
The average retail price of A-92 petrol grew by 2.5%, to UAH 23.15 per liter, A-95 – by 2.3%, to UAH 24.21 per liter and A-95+ – by 1.8%, to UAH 25.67 per liter.
The retail price of diesel fuel rose by 2.8%, to UAH 23.53 per liter, and the price of LPG grew by 1.4%, to UAH 12.74 per liter.

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WEEKLY CHANGES IN PETROL PRICES IN UKRAINE

The average retail price of A-92 and A-95 petrol slightly fell from September 30 to October 7, by 0.11% and 0.03%, respectively.
The retail price of A-95+ petrol did not change, according to Kyiv-based A-95 Consulting Group.
The average retail prices of diesel fuel fell by 0.14%, while the price of LPG dropped by 0.24%.
Changes in average retail prices of fuel in Ukraine, UAH per liter:

©Source: A-95 Consulting Company

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CHANGES OF RETAIL PRICES OF PETROL IN UKRAINE

The average retail price of A-92 and A-95 petrol slightly grew from September 23 to September 30, by 0.04%.
The retail price of А-95 and A-95+ petrol did not change, according to Kyiv-based A-95 Consulting Group.
The average retail prices of diesel fuel rose by 0.04%, while the price of LPG dropped by 0.17%.
Changes in average retail prices of fuel in Ukraine, UAH per liter:

©Source: A-95 Consulting Company

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