The price of diesel in Ukraine may rise by another 3 hryvnia per liter

The price of diesel fuel in Ukraine could rise by another 2–3 hryvnias per liter over the next seven days if global fuel prices remain high. Due to the current high cost of fuel, demand for it in Ukraine has already declined, the expert noted.

“I think there are now grounds to say that diesel prices in Ukraine may rise over the next seven days if prices on international markets remain high. Perhaps by 2–3 hryvnias. I foresee a moderate upward trend over the next seven days. This is because diesel is the product in shortest supply here, and its price is rising more noticeably,” he said.

According to him, Ukraine is almost entirely dependent on fuel imports, as its own oil refining capacity has been destroyed. At the same time, the European market is experiencing a shortage of diesel and gasoline, and prices are rising due to the escalating situation in the Persian Gulf.

Omelchenko explained that Ukrainian traders have to offer European suppliers an additional premium to secure fuel purchases. In addition, the price factors in the risk of further price increases due to market instability.

At the same time, despite rising prices, there is currently no fuel shortage in Ukraine. The expert noted that demand has fallen precisely because of the high cost, and contracted volumes are sufficient.

“There is no fuel shortage at present because demand has fallen due to high prices. We have sufficient contracted volumes. There are delivery challenges to some frontline regions. The biggest challenge is the threat of attacks on gas stations, which Russia began as early as this summer. As for the Danube region, the situation was already difficult this summer. I don’t think this is a critical problem,” Omelchenko added.

It should be noted that, according to the “Minfin” portal, the price of diesel fuel currently stands at 103 UAH per liter.
 

Diesel has risen to 109 UAH — fuel prices in Ukraine as of October 22.

Diesel and autogas prices have risen in Ukraine: the situation at gas stations as of October 20.