Rising fuel prices could add 0.45% to annual inflation — NBU
The NBU warns that the rise in fuel prices in Ukraine, which is likely to continue, could increase annual inflation by 0.45%.
This was announced by National Bank Deputy Governor Volodymyr Lepushynskyi during a press briefing.
"We are seeing a 12.5% increase in fuel prices. Most likely, this figure will rise to 16%. And the direct contribution to annual inflation (if these prices are maintained) will be about 0.45%," he noted.
Lepushinsky suggests that the continuation of the war in Iran and the blockade of the Strait of Hormuz could lead to higher inflation rates by the end of this year compared to those projected by the NBU in its January forecast.
According to Lepushinsky, the events in the Middle East will have a direct impact on the trade balance, as fuel, gas, and, equally importantly, fertilizer are also becoming more expensive on global markets, which will affect imports.
"If the price of oil stabilizes at $80–100 per barrel, the impact on increased imports will be in the range of $1.5–3 billion. But this is assuming prices stabilize and remain at that level until the end of the year," he said.
Fuel prices in Ukraineas of March 18: A-95 gasoline and diesel have risen in price.
Also, as of March 10, 2026, the largest gas station chains in Ukraine have not significantly changed fuel prices.
