The President of Ukraine, Volodymyr Zelenskyi, signed draft law No. 11256-2, which provides for a significant increase in excise taxes on fuel. The initiative, which comes into force on September 1, has sparked widespread debate among experts and business representatives, as it is expected to lead to higher prices for gasoline, diesel and liquefied natural gas.
Basic provisions of the law
According to the new law, until 2028, excise tax rates on fuel will gradually increase and reach the following indicators:
- Gasoline : 359 euros for 1000 liters
- Diesel fuel : 330 euros for 1000 liters
- Liquefied gas : 70 euros for 1000 liters
According to People's Deputy Yaroslav Zheleznyak, the law will come into force after publication in the official publication, which is expected in the near future.
The purpose of increasing excise taxes
The main purpose of raising excise taxes is to provide additional revenues to the state budget, which will be directed to support the Armed Forces of Ukraine. In connection with the ongoing war in the country, financing the army remains one of the priorities of state policy.
Economic influence
According to preliminary estimates, the increase in excise duties will lead to an increase in the price of diesel fuel and gasoline by approximately 1.5-2 hryvnias per liter. This, in turn, can cause a general increase in prices for all goods, since fuel costs are a significant component of the cost of any production.
The founder of the "Prime" logistics group of companies, Dmytro Lyushkin, warned that the new fuel prices will affect all sectors of the economy, as most businesses depend on transport and electricity. This is especially true for businesses that operate on generators during massive power outages.
Opinions of experts
The Chairman of the VRU Committee on Finance, Tax and Customs Policy, Danylo Hetmantsev, noted that an increase in excise duties may lead to an increase in prices, but, according to him, this effect should not be so significant as to significantly affect the general level of inflation. However, other experts fear that the additional tax burden could make it difficult to rebuild the economy after the war.
