Cartel conspiracy or inaction: why fuel prices are rising in Ukraine

The rise in the cost of gasoline at Ukrainian gas stations has all the signs of a cartel conspiracy that the Antimonopoly Committee is ignoring. Officials are deliberately ignoring financial abuses, although they have the right to impose huge fines.

This was stated on the air of “Pryamoy” by former Minister of Social Policy Andriy Reva, pointing to the synchronous price increase by various gas station chains without objective reasons.

“If, for example, you purchased oil at the old price in order to produce petroleum products, at least 21 days must pass. That is, they take old stocks and suddenly raise the price,” the former minister explained his position, emphasizing that the AMCU has the right to impose huge fines, but does not do so.

The former official is particularly worried about the approaching sowing campaign. According to him, farmers will be forced to buy fuel at inflated prices, which will inevitably affect the cost of final products for the population. Reva is convinced that officials are deliberately ignoring financial abuses that hit the pockets of every citizen.

Recall that Ukrainian gas stations, taking advantage of events in the Middle East, raised fuel prices to increase profits, despite the fact that the situation in the Persian Gulf has not yet had an impact on the market.

Thus, on March 5, fuel prices at Ukrainian gas stations continued to rise . Diesel fuel rose the most, while gasoline and autogas also increased in price. In particular, the average cost of A-95 premium gasoline increased by 63 kopecks and is now UAH 72.3 per liter.

Regular A-95 gasoline has risen in price by UAH 1.08 to UAH 68.28 per liter. At the same time, diesel fuel has increased by UAH 1.55 and costs an average of UAH 68.95 per liter. Autogas has also risen in price by UAH 26 kopecks to UAH 40.23 per liter.

Meanwhile, the Antimonopoly Committee of Ukraine has given gas station chains three days to explain the reasons for the sharp increase in prices for light petroleum products. The agency is checking whether market participants could have acted in concert.

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