Global fuel prices are rising again amid instability in the Middle East
European prices for gasoline and diesel fuel—the benchmarks against which Ukraine imports fuel—have begun to rise sharply again after a brief pause.
As noted, the previous temporary drop in prices was linked to the announcement of a ceasefire in Iran; however, due to a new wave of uncertainty in the Middle East, the market has resumed its upward trend.
This is reported with reference to a Facebook post by Serhiy Kuyun, director of the consulting group "A-95."
The expert explained that after a brief lull, diesel fuel prices have once again risen sharply, and suppliers are raising premiums, signaling risks in securing supplies.
"The good times didn’t last long… Latest diesel fuel prices: Mediterranean – $1,384.00 (+$87.25), Northwest – $1,415.75 (+$145.00). In addition, without exception, all suppliers selling us fuel have raised their premiums, which is a sign of problems with future resource availability. In other words, they do not have much faith in a quick resolution of the problems in the Middle East," Kuyun noted.
According to him, the increase in premiums by suppliers, coupled with rising prices, signals problems in the global market and the risk of further price hikes for petroleum products.
In fact, import prices have nearly returned to pre-ceasefire levels in recent days.
Fuel prices in Ukraine: how much do gasoline, diesel, and gas cost as of April 10.
Fuel prices in Ukraine on April 9: gasoline prices fell, diesel prices rose.
Earlier, the Ministry of Economy explained the procedure to follow in the absence of cashback for fuel purchases.
Why cashback was offered for fuel instead of loweringprices.
