Fuel Prices Rise at Gas Stations in Ukraine, Further Increases Expected

On July 20, a mass increase in fuel prices at gas stations occurred, which had become apparent a week earlier. Sergey Kuyun, director of the consulting group "A-95," reported that the global oil market began to rise on July 7, and gas station prices started to increase two weeks later. The rise in fuel prices is linked to the escalation of the situation in Iran and a new blockade of the Strait of Hormuz, which has led to an increase in global oil prices to $90 per barrel. The shortage of petroleum products in the European market is also affecting the situation: oil supplies to European refineries have decreased, and Russia has closed diesel fuel exports and started searching for gasoline on the global market. Diesel fuel is expected to rise to a minimum of 86 UAH/l (currently 79), while A-95 gasoline is expected to reach a minimum of 83 UAH/l (currently 77). In the coming weeks, gasoline and diesel prices may increase by 2-3 UAH. The main reason for the price surge is the resumption of hostilities in the Persian Gulf and attacks on Iranian infrastructure, which are driving up global oil prices. The wholesale petroleum products market is showing record growth, while demand for autogas remains minimal.

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