Fuel prices in Ukraine are rising rapidly: will diesel be 100 UAH per liter?
фото: REUTERS
Fuel prices are rising rapidly in Ukraine. Over the past ten days, diesel fuel prices have increased the most, and experts warn that without additional measures, the cost of diesel could reach UAH 100 per liter in the coming weeks.
This is reported by RBC-Ukraine.
According to the publication, over the past ten days, prices for all types of fuel have increased significantly in the largest gas station chains in Ukraine. Diesel fuel has risen the most, while the smallest changes were recorded in the autogas market.
Thus, the cost of regular gasoline increased by 6.5-8 UAH per liter — to 77.90-85.40 UAH/l, and premium — by 4-6.5 UAH, to 82.90-95.40 UAH/l. Diesel fuel increased in price the most: standard brands increased in price by 10-13 UAH (to 86.90-92.90 UAH/l), and premium — by 10-15 UAH, to 88.90-95.90 UAH/l. Autogas increased in price to 3.6 UAH per liter and currently costs 40.90-44.50 UAH/l.
As of July 29, OKKO and WOG chains sell A-95 gasoline for UAH 82.90-83.50 per liter, diesel fuel for UAH 90.90-91.80, and premium brands of diesel for UAH 93.90-94.80 per liter. The cost of autogas is UAH 42.90-44.50 per liter.
In the SOCAR network, prices are even higher: A-95 gasoline costs UAH 85.40 per liter, and branded diesel fuel has already reached UAH 95.90 per liter. At the same time, the lowest prices among large networks are offered by Ukrnafta, where A-92 gasoline costs UAH 77.90 per liter, A-95 — UAH 79.90, and diesel fuel — from UAH 86.90 per liter.
Experts attribute the sharp increase in fuel prices to a combination of several factors. The main reasons include the worsening situation in the Middle East, a shortage of oil refining capacity in Europe, new Ukrainian legislation requirements regarding the use of bioethanol in gasoline, and increased demand from farmers.
After the resumption of hostilities between the US and Iran, as well as attacks by Yemeni Houthi rebels, shipping through the Straits of Hormuz and Bab el-Mandeb has been significantly hampered. This led to a jump in world prices for Brent oil, which on July 23 exceeded $100 per barrel for the first time in several months. Although the quotes later decreased to about $83.7, Ukrainian consumers will not feel this yet, as the country imports finished oil products, the prices for which are formed on the European market.
An additional factor was the reduction in the supply of gasoline and diesel in Europe. Due to limited import opportunities, it is increasingly difficult for traders to purchase the necessary volumes of fuel, which affects its cost in Ukraine.
The situation is also affected by a new provision of Ukrainian legislation, which, starting July 1, requires a mandatory bioethanol content of at least 10% in gasoline. According to market participants, there is significantly less of this resource than traditional types of gasoline, which also limits imports.
Another factor was the sharp increase in wholesale prices for diesel, which have already exceeded retail prices. Because of this, farmers began to actively purchase fuel at gas stations, which in some regions leads to temporary depletion of stocks.
According to Volodymyr Omelchenko, director of energy programs at the Razumkov Center, in the coming weeks, diesel fuel may rise in price to UAH 90-92 per liter, and gasoline by another UAH 4-5.
Prime Group founder Dmytro Leushkin, in turn, outlined two possible scenarios for the development of the situation. The first is that without state intervention, diesel prices could exceed the psychological mark of UAH 100 per liter in August, and gasoline would approach UAH 95. The second scenario involves containing prices thanks to government decisions, in particular through tax changes or other market support mechanisms.
Despite the rapid price increase, experts do not predict a systemic fuel shortage. According to them, the necessary volumes have already been contracted, but due to logistical difficulties and high demand, local disruptions at individual gas stations may persist until mid-September.
In particular, automotive gas remains the most affordable type of fuel for now — its cost is UAH 40.90-44.50 per liter. A sharp jump in prices is not expected in the near future, but in the fall, LPG may also become more expensive due to seasonal demand growth in Europe and logistics complications. Experts advise drivers not to create a rush of demand, as mass purchases only exacerbate supply problems.
It was previously reported that due to the escalation of the conflict between the US and Iran, world oil prices continued to rise , and the cost of Brent exceeded $90 per barrel.
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