Over the past month, gasoline and diesel prices have risen in Ukraine

Over the past month, gasoline and diesel prices in Ukraine have increased by an average of one and a half hryvnias (0.02 euros) per liter – and this is not the limit. In the past few days, the price of A-92 gasoline has risen to 51.46 hryvnias (1.21 euros) per liter, A-95 to 54.44 hryvnias (1.28 euros), and diesel to 54.64 hryvnias (1.28 euros) per liter.

This information comes from the “Minfin” website.

Among the reasons for the price increase, experts cite the rise in global oil and petroleum product prices due to Ukrainian drone attacks on Russian refineries and geopolitical tensions in the Middle East, as well as the devaluation of the hryvnia against the dollar.

Experts predict that if oil prices on the world market rise from the current $85-90 to $100 per barrel, gasoline and diesel prices in Ukraine will increase to approximately 60 hryvnias.

Meanwhile, prices are rising against the backdrop of a 10-15% decrease in fuel demand in Ukraine, according to the website. Among the reasons for the decline in demand, analysts mention the blockade of the Ukrainian-Polish border, which has led to fewer trucks traveling and refueling less frequently, as well as mobilization, which has led men to try to avoid unnecessary outings from home.

It’s worth noting that the Cabinet of Ministers has approved a bill to increase excise taxes on fuel, which may lead to price increases. The excise taxes will gradually align with EU levels over four years, starting in the second half of this year. The excise tax on diesel fuel will increase the most significantly.