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Despite the increase in excise duties on fuel in Ukraine, its cost may decrease due to the drop in world oil prices. This is reported by the Ukrainian publication, referring to the data of the Naftorynok consulting company.
The following changes were observed last week:
- October futures for West Texas Intermediate oil fell by $1,48 per barrel to $67,67 (-2,14%).
- October Brent oil futures fell by $1,63 per barrel to $71,06 (-2,24%).
Brent fell 10% for the week to its lowest level since December 2021, while WTI fell 8% to its lowest since June 2023.
The average wholesale price of diesel fuel decreased by 27 kopecks per liter at the end of last week, to UAH 43,42, due to weak demand and surplus on the market in Ukraine, as well as a drop in diesel fuel quotations in Europe.
Forecasts for the week are associated with a drop in external quotations, limited sales and oversaturation of the market. In the short term, a further decrease in wholesale prices is expected.
The average wholesale price of A-95 gasoline decreased by UAH 1,11/l to UAH 47,43/l. However, the average retail price of A-95 gasoline at gas stations increased by 12 kopecks per liter, up to UAH 56,59/liter.
According to analysts, the cost of fuel remains relatively stable for now, thanks to traders' stocks and lower global oil prices. A further increase in gas station prices until mid-September is unlikely.
Experts note that the decrease in oil prices practically compensated for the increase in the price of gasoline and diesel. The founder of the Prime group of companies, Dmytro Leushkin, noted that price increases due to excise taxes are "actually impossible." He also emphasized that the main factor in the fuel market is the price of oil. If prices remain at their current level until the end of September, this could lead to a significant drop in prices.
