What needs to happen for the price of gasoline and diesel to finally stabilize?
Fuel prices in Ukraine will stabilize only after the situation in the Middle East stabilizes, as they are a “reflection of the situation” in the region.
As reported by RBC-Ukraine, this was stated by Prime Minister Yulia Svyrydenko during the hour of questions to the government.
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The head of the government emphasized that there are no coordinated actions leading to price increases.
“This is a highly competitive market, and the price ceiling at gas stations reflects the situation of the war in Iran. Only after stabilization in the Middle East can we expect price stabilization here in Ukraine,” Svyrydenko explained.
Fuel prices
Recall that after Iran blocked the Strait of Hormuz, fuel prices in Ukraine skyrocketed. However, against the backdrop of a ceasefire between the U.S. and Iran, the situation began to gradually improve.
In particular, on April 8, the Ukrainian fuel market recorded the first wave of price reductions: the price of diesel fuel fell by 1 hryvnia (to 92.90-93.00 UAH/l at market leaders).
The response from gas stations was triggered by a collapse in global Brent oil prices to $91.7 per barrel following the announcement of a ceasefire between the U.S. and Iran.
It is worth noting that Svyrydenko expects fair pricing from gas station owners for motorists. According to her, the state network of gas stations “Ukrnafta” has already responded and started to lower prices. The Prime Minister noted that prices will continue to fall if the positive trend persists.
At the same time, the U.S. is pessimistic about forecasts for decreasing fuel prices. Global gasoline prices may continue to rise for several months even after the Strait of Hormuz is reopened.
Source: rbc.ua +rel=”nofollow”
