Ukraine predicts diesel fuel shortage: will there be queues at gas stations?

Ukraine’s diesel fuel supplies are secure until the end of March, with imports increasing at a rate of around 17,000 tonnes per day. However, the outlook for April supplies remains uncertain due to rising prices.

According to analysts at consulting firm Enkorr, Ukraine has largely switched to importing fuel from Western, Central and Southern Europe following massive Russian attacks that severely damaged refineries.

March supplies could reach 522,000 tonnes, almost on par with last year. However, the situation for April remains uncertain as suppliers have yet to finalise deals.

One trader confirmed that negotiations were ongoing, but details on volumes and terms were yet to be finalised. Another market participant said that diesel fuel prices had risen by almost 50% over the past month due to the escalating conflict in the Middle East.

There is concern among market participants about a possible further increase in fuel prices if hostilities continue.