Recent tensions in the Middle East have triggered fluctuations in global oil prices, directly affecting fuel costs in Ukraine. Approximately 20 million barrels of oil pass through the strategic Strait of Hormuz daily, making any disruption in this region significant for international markets.
Experts indicate that while Ukraine will experience a rise in fuel prices, the increase may not be as severe as some fear. A time lag exists between market events and price changes at gas stations, typically taking a few weeks for new shipments to arrive from Europe.
Despite the anticipated rise in fuel costs, analysts suggest that prices are unlikely to reach 100 UAH per liter. This is largely due to the fact that many companies have already accounted for potential risks in their pricing strategies.
The Ukrainian government is also poised to take measures to stabilize fuel prices. Proposed solutions include implementing flexible excise taxes that adjust with global oil prices, eliminating advance profit tax payments to enhance competition, and increasing market monitoring to penalize unjustified price hikes.
As of March 9, fuel prices at various gas stations in Ukraine have seen slight increases. For instance, diesel prices at OKKO and WOG rose by 3 UAH, while SOCAR saw increases of 1-2 UAH. The latest prices are as follows:
- OKKO:
- Pulls 100 – 80.99 UAH
- Pulls 95 – 73.99 UAH
- A-95 Euro – 70.99 UAH
- DP Pulls – 76.99 UAH
- DP Euro – 73.99 UAH
- Gas – 41.99 UAH
- WOG:
- 100 – 80.99 UAH
- 95 (Mustang) – 73.99 UAH
- 95 Euro – 70.99 UAH
- DP Euro-5 – 73.99 UAH
- DP Mustang – 76.99 UAH
- Gas – 41.98 UAH
- SOCAR:
- NANO 100 – 80.99 UAH
- NANO 95 – 74.99 UAH
- A-95 – 70.99 UAH
- NANO Extro – 76.99 UAH
- NANO – 73.99 UAH
- Gas – 41.98 UAH
- Ukrnafta:
- 98 (Energy) – 77.99 UAH
- 95 (Energy) – 71.99 UAH
- 95 – 68.99 UAH
- 92 – 65.99 UAH
- (Energy) – 72.99 UAH
- 68.99 UAH
- Gas – 40.99 UAH
Last week, fuel prices in Ukraine had already risen, leading to long lines at gas stations. This surge was attributed to reports of military operations in Iran, which disrupted tanker movements through the Strait of Hormuz and affected oil refinery operations in the Gulf region.
Experts noted that the primary driver of these price changes was panic rather than actual supply issues. The head of Naftogaz Ukraine, Serhiy Koretsky, confirmed that fuel prices in Ukraine have increased by an average of 6 UAH.
In response to these developments, President Volodymyr Zelensky stated that the state company Ukrnafta has reduced its markup during this period to prevent drastic price increases.
Tensions in the Middle East have led to fluctuations in global oil prices, impacting fuel costs in Ukraine. Experts predict a rise in prices but do not foresee them reaching 100 UAH per liter, as the government considers measures to stabilize the market.