After President Volodymyr Zelenskyi signed the law on increasing excise duties on fuel, the Ukrainian oil market is expecting a gradual increase in prices. However, as the general director of the gas station network, Leonid Kosyanchuk, notes, this price increase will not be immediate and sharp, which gives consumers some time to adapt.
According to Kosyanchuk, the increase in excise duties on gasoline, diesel, and liquefied gas creates prerequisites for rising prices. It is expected that gasoline will rise in price by approximately 1.5 hryvnias per liter, diesel fuel by 2 hryvnias, and liquefied gas by 5 hryvnias. The latter leaves the category of affordable alternative fuel, which will hit the most vulnerable sections of the population, who used it as a cheap alternative to gasoline.
Despite this, the expert believes that a significant price increase in the coming days should not be expected. On the eve of the introduction of the new excise tax, market operators brought significant stocks of petroleum products into the country. "Today, everyone is filled to the brim," Kosyanchuk notes, stressing that the price increase will likely take place only at the end of September, when the reserves of cheaper fuel will be exhausted.
On September 2, 2024, President Volodymyr Zelenskyi signed a law that provides for a gradual increase in fuel excise tax rates until 2028. The new rates will be 359 euros per 1,000 liters of gasoline, 330 euros per 1,000 liters of diesel fuel and 70 euros per 1,000 liters of liquefied gas.
