The price of gasoline of the A-95 brand may rise to UAH 23-23.5 per liter at gasoline filling stations within the next 10 days because of the fall of the market and official exchange rates of the hryvnia and the increased price quotations on the European fuel market. At the same time, the retail price of diesel fuel has the potential to rise to UAH 22-22.5 per liter, the A-95 Consulting Group told the OilNews publication.

The average price of the A-95 gasoline at Ukrainian gasoline filling stations rose by 65 kopecks per liter to reach UAH 17.81 per liter and the price of diesel fuel rose by 66 kopecks per liter to UAH 17.55 per liter on February 9. At the largest chains of gasoline filling stations, the price of the A-95 gasoline was UAH 18.99 per liter and the price of diesel fuel was UAH 18.49 per liter. On Monday, the majority of market participants refused to offer their products because they were unable to determine prices because of the changing exchange rate. A survey of operators indicated that the wholesale prices of the A-95 gasoline reached UAH 24,000 per ton (an increase of UAH 5,000 in a week) and the price of diesel fuel reached UAH 21,500-22,000 per ton (a 28% increase) on February 9.

Prices rose because the hryvnia fell below 26 UAH/USD on the currency market and the official exchange rage rise to 23.13 UAH/USD (by noon on February 9). In addition, following the upward trend on the world market of oil prices, the price of petroleum products at European ports has risen substantially over the past 10 days, with the price of diesel fuel increasing by USD 75 per ton (+14%) and the price of the A-95 gasoline by USD 90 per ton (+16%).

According to estimates by analysts with the A-95 Consulting Group, at the National Bank of Ukraine’s current exchange rate of 24.96 UAH/USD (established after noon on February 9) and the current level of prices in Europe, the wholesale price of the A-95 gasoline has the potential to increase to UAH 24,500 per ton and the price of diesel fuel to UAH 22,000 per ton. Accordingly, within the next decade retail prices can be expected to rise to UAH 23-23.50 per liter of the A-95 gasoline and UAH 22-22.50 per liter of diesel fuel.

It should also be noted that one of the most important factors stimulating the price increases is the introduction of a 5% tax on trade in excise goods from January 1, 2015.