The cost of fuel in Ukraine is expected to remain stable until the end of 2025, without significant price fluctuations. This assessment was made by the Deputy Head of the National Bank of Ukraine, Serhiy Nikolaychuk, during a briefing.
This is reported by Finway
Main Reasons for Recent Price Increases
According to the official, the rise in gasoline and diesel prices in recent months was due to two temporary factors that no longer have a significant impact on the market. The first factor is the short-term increase in oil prices on global markets, caused by the escalation of the conflict in the Middle East. However, the situation quickly stabilized, and the influence of this factor has diminished.
The second factor is fluctuations in the exchange rate, particularly the strengthening of the euro against the hryvnia. Since fuel excise taxes in Ukraine are calculated in euros, the rise in the value of the European currency directly affected the cost of fuel for consumers.
Future Prospects for the Fuel Market
Until the end of the year, the National Bank does not anticipate significant changes in fuel prices. According to the NBU’s estimates, the overall increase in gasoline and diesel prices in 2025 will not exceed 10%.
“We do not expect noticeable price fluctuations by the end of the year. The overall increase in fuel costs by the end of 2025, according to our estimates, will be less than 10%,” Nikolaychuk reported.
Serhiy Nikolaychuk also emphasized that according to the National Bank’s medium-term forecast, oil prices will remain stable, so this segment of the market will not have a significant impact on inflation in Ukraine in the near future.