Fuel prices in Ukraine are expected to rise significantly over the coming week, with diesel potentially reaching between 75 and 80 hryvnias per liter and gasoline between 72 and 77 hryvnias per liter. This forecast comes amid ongoing geopolitical tensions that could impact oil supply routes, particularly through the strategically vital Strait of Hormuz.
According to Dmitro Lyoshkin, a fuel expert and founder of Prime Group, the current procurement price for diesel in Izmail stands at 64 hryvnias per liter, while gasoline is priced at 62 hryvnias per liter. He predicts that rising gasoil quotations will drive prices up further, estimating that the working price could reach between 67 and 69 hryvnias per liter after accounting for additional costs.
Lyoshkin noted that the increasing fuel prices have become a socially significant issue, prompting fuel networks to minimize price hikes at the pumps. He anticipates that discounts will be reduced as companies prepare for the price surge. “I believe that after they cut discounts on Friday, we will see a price increase of 2-3 hryvnias over the weekend or a significant jump on Monday,” he stated.
He also mentioned that if U.S. officials, such as Marco Rubio or Donald Trump, announce a restoration of shipping through the Strait of Hormuz, it could halt the anticipated price increases. However, without such developments, premium gas stations may see diesel prices approach 80 hryvnias per liter and gasoline prices around 77 hryvnias per liter. Regular stations are likely to charge about 5 hryvnias less, with further adjustments expected by the end of March.
Current Situation in Iran
On March 2, Iran announced the closure of the Strait of Hormuz, a critical passage for global oil shipments. This announcement coincided with reports from the Islamic Revolutionary Guard Corps of an attack on an oil tanker attempting to navigate the strait. In response, U.S. President Donald Trump suggested the possibility of deploying military vessels to ensure safe passage for ships in the area, although these proposals have not materialized into concrete actions.
The ongoing geopolitical developments, particularly related to Iran and the Strait of Hormuz, continue to influence global oil markets, with potential repercussions for fuel prices in Ukraine and beyond.
Fuel prices in Ukraine are projected to rise significantly due to geopolitical tensions affecting oil supply routes, particularly through the Strait of Hormuz. Experts predict that prices could reach as high as 80 hryvnias per liter for diesel and 77 hryvnias for gasoline if current trends continue.
Source: UNIAN