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A sharp rise in prices for diesel fuel is expected in Ukraine - Derzhzovnishinform

Ukraine / Business and Finance

The rise in prices for petroleum products in Europe against the background of the strengthening of the dollar against the hryvnia creates expectations of an increase in prices for diesel fuel in retail in the second half of November.

A sharp rise in prices for diesel fuel is expected in Ukraine - Derzhzovnishinform

Experts of the Department of Research of Oil and Gas Products of the State Enterprise "Derzhzovnishinform" warn about a possible rise in prices for diesel fuel in Ukraine.

“If we compare the prices for gasoline and diesel fuel on the European market as of November 16, 2020 versus November 1, 2020, the price increase was 14% or USD 46 and 44 per ton, respectively. That is calculated taking into account the average exchange rate of the NBU dollar and euro as of dates, taking into account excise tax and VAT, is +1550 hryvnia per ton for gasoline and + 1350 hryvnia per ton for diesel fuel, which in terms of conversion gives +1.2 and + 1, 1 hryvnia per liter of a possible rise in price in the wholesale until the end of the month, "the message says.

Wholesale prices of petroleum products in Ukraine as of November 13, compared to November 1, 2020, have already begun to increase: the price of diesel fuel increased by an average of 3% or 570 hryvnia per ton, and the price of A 95 gasoline remained almost unchanged.

The tendencies of the first half of November with the strengthening of the hryvnia against the US dollar in the currency market of Ukraine may also change in the third decade of November. Therefore, there are real-time expectations in the market for a rise in retail diesel prices in the second half of November.

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