Serhiy Koretsky, head of Naftogaz, reported a notable increase in fuel prices at Ukrainian gas stations, rising approximately 6 hryvnias per liter, attributed to the ongoing conflict in the Middle East. He emphasized that the primary objective is to ensure a steady supply of petroleum products in the Ukrainian market.
Koretsky made these statements during a briefing following a meeting with President Volodymyr Zelensky, government officials, and members of the Verkhovna Rada on March 5. He highlighted that the key task for Ukraine, similar to other European nations, is to avoid any disruptions in the supply of oil products.
The official noted that previous crises, such as the COVID-19 pandemic and the onset of the full-scale war with Russia, had also tested supply chains. He stated, “This reaches its peak, then there is a decline. Therefore, all companies are working on diversifying supply channels. Ukraine has one of the most diversified supply networks from various sources and through different modes of transport. Thus, we do not see any panic regarding the supply of oil products. As for prices, they have risen on global markets. This is an objective reality,” he explained.
“The company will minimize any additional markup that only covers costs to ensure a smooth transition through this challenging period. Therefore, the supply of petroleum products will proceed as planned. We see that all market players are witnessing an increase in fuel sales. We consider this a shock panic sentiment… There are no problems in this regard,” Koretsky concluded.
President Zelensky added that while the government cannot control the entire private sector of the Ukrainian fuel market, Naftogaz and Ukrnafta will regulate their prices and provide assistance to the public during these challenges.
This report will be updated as new information becomes available.
Ukrainian fuel prices have risen due to the Middle East conflict, prompting officials to assure the public of stable supply. Naftogaz aims to minimize price increases during this period.