The price of diesel fuel on the world market has hit a historic record
The price of diesel fuel in Ukraine may rise to 100 hryvnias per liter. The reason is the record increase in oil products in Europe.
This was stated in a comment to RBC-Ukraine by fuel expert, director of the consulting group “A-95,” Sergey Kuyun.
Read also: Gasoline at 87 UAH, diesel – 95 UAH: fuel prices soar at gas stations
Why gas station prices continue to rise
Ukraine is entirely dependent on imported finished fuel, as it lacks its own oil refining capacities. Therefore, the domestic market is oriented towards European quotes, where the greatest excitement is currently observed around diesel, the expert explained to RBC-Ukraine.
According to Kuyun, since the beginning of the full-scale war, the price of diesel fuel in Europe has doubled. If at the end of February diesel cost 750 dollars per ton, now the price has surpassed the historic milestone of 1500 dollars.
“This is a historic record; the market and the planet have never seen anything like it. Therefore, prices continue to rise accordingly,” the expert explained.
Why diesel will be 100 hryvnias
According to new prices from European plants (in particular, the Lithuanian division of the Orlen group), the wholesale purchase price of fuel at the border with Ukraine is already 92 hryvnias per liter.
“If we add 2 hryvnias for transportation and at least 3 hryvnias for the minimum wage of the gas station, then we already have 100 hryvnias per liter,” Kuyun explained in a conversation with RBC-Ukraine.
He emphasized that this is no longer “scare tactics,” but an inevitable reality that will occur within a few weeks.
No “cartel conspiracy”
At the beginning of the escalation in the Middle East, when fuel prices began to rise sharply at Ukrainian gas stations, rumors circulated in expert circles about an alleged “cartel conspiracy” among gas station networks. However, according to Kuyun, the current circumstances prove that there was no conspiracy.
“We buy 100% of our fuel from abroad, at prices that the world market offers us. And we cannot do anything about it. We can only refuse to purchase. That is also an option, by the way,” the expert said.
However, as Kuyun noted, despite fuel prices already surpassing the 90 hryvnia mark, a significant decrease in consumption in Ukraine has not yet been observed.
Read also:
- The global oil market is under threat: OPEC+ is taking radical steps due to the war
- How many Ukrainians have already applied for cashback on fuel: the Cabinet has named the figure
