You just have to wait a little longer: Ukrainians are predicted to see a decrease in gasoline and diesel prices

Oil prices have started to decline, due to the easing of tensions in the Middle East and the announcement by OPEC+ countries of their intention to increase production in August. These factors typically lead to a decrease in gasoline and diesel prices, particularly on the Ukrainian market. This is emphasized by experts Serhiy Kuyun and Volodymyr Omelchenko.

Situation in June

In June, retail prices in Ukraine increased by approximately 6–7%. The main reason for this was the jump in oil prices due to the conflict between Israel and Iran. At the end of June, A-95 gasoline rose to UAH 58.92 per liter, which is UAH 4.36 more than at the beginning of the month. Diesel fuel costs UAH 55.88 per liter, which is UAH 3.34 more than the previous price. However, autogas prices decreased by UAH 0.32, reaching UAH 34.51 per liter.

Prospects for a tariff reduction

Director of the A-95 consulting group Serhiy Kuyun comments:

“Oil prices have returned to the level they were before the escalation, so a correction is expected in the retail market.”

According to him, such changes could lead to a price reduction of 3-4 UAH in the coming days. If this does not happen, the expert advises paying attention to possible abuses by individual gas station chains.

Price speculation in June

Omelchenko points out that the increase in prices at gas stations occurred almost immediately after reports of Israeli strikes on Iran. “The volumes of fuel that remained at gas stations were purchased at lower prices, so the real ‘oil surcharge’ could appear only in two weeks,” he notes.

Now that world quotes have decreased, there is no longer any reason to maintain prices at the June level. If prices continue to decline, the Antimonopoly Committee will have grounds to investigate the situation, as consumers have already overpaid “hundreds of millions, if not a billion hryvnias.”