Ukrainian gas stations may soon display a price of 90 UAH per liter for diesel fuel. This forecast was made by the director of the A-95 Consulting Group, Serhiy Kuyn, who explained the sharp price increase by a number of global factors.
This is reported by Finway
Reasons for the Sharp Rise in Diesel Prices
The main reason for the rapid price increase, experts say, is the European market’s dependence on diesel fuel imports from the Middle East. On the London ICE exchange, the price of a ton of diesel has already exceeded 1300 dollars. This directly affects the cost of fuel arriving in Ukraine: the cost of diesel at the border is currently around 80 UAH per liter.
“It needs to be transported from the border, for example, to Kyiv. That adds another 2 UAH. Then there are additional costs, taxes, and some profit. So, I think that within a week the price could creep up to 90 UAH,” Kuyn said, adding that the situation may change depending on events in the Middle East.
Shortage in Europe and Its Impact on Ukraine
According to analysts, the main factor driving up prices is a serious shortage of diesel fuel in Europe. European countries import about 3 million tons of diesel each month, with the vast majority of this volume coming from Middle Eastern countries.
After the embargo on diesel fuel imports from Russia, Middle Eastern suppliers have replaced Russian volumes in the European market. However, due to the current issues in the region, diesel prices have risen even more sharply. As experts emphasize, any new complications in the Middle East could lead to an even greater spike in prices in Ukraine.