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Iran unrest pushes gasoline prices up in Ukraine – expert

The expert of the fuel market Serhiy Kuyun speaks about the reasons for the hike in price of gasoline.

Director of Consulting Group A-95, Serhiy Kuyun, told LB.ua about the reasons for the increase in gasoline prices in Ukraine.

In an intervew on 5 January, Kuyun said that the prices on the stalls of gas chains are growing mainly due to a global increase in prices for oil and, accordingly, oil products, while the weakening of the hryvnia against world currencies plays a secondary role.

The expert believes that national gas filling networks at the end of last year held the price rise and now are trying to compensate for the lost profits.

"The main reason is that the oil price continue to grow. This time, the main driver of growth are the events in Iran, a major oil-producing country. Oil prices reached a three-year high at 68 dollar a barrel after 50 – 55 dollars a barrel for the most of the past year" Kuiun said.

The average price for a liter of A-95 gasoline in Ukraine has grown from 26.35 to 28.48 hryvnia over the past three months, and hit the price tag of 30 hryvnia on the stalls of individual gas stations.

As of January 4, 2018, a liter of this category fuel is sold at 31.45 hryvnya in the WOG network, OKKO sells it for 30.99 hryvnya, Shell – for 30.95, SOCAR for 30.79.

Other large chains are holding prices below the psychological mark of 30 hryvnia so far.

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