Fuel prices rose again: how much more could pump prices increase

After the weekend, Ukrainian drivers again saw higher prices for gasoline and diesel. Experts do not rule out further price increases, but forecasts of a jump to 100 hryvnias per liter are not available at the moment.

According to the Consulting Group A-95, average fuel prices in Ukraine rose after the weekend. Specific average figures are not provided in the text.

Fuel market expert Serhiy Kuyun believes that prices could rise to the level of 93–94 hryvnias. At the same time, he does not currently expect a scenario with fuel at 100 hryvnias per liter.

According to him, world prices have stabilized, although they remain quite high. Therefore there is some room for further price increases in Ukraine, but not enough to speak of a psychological mark at 100 hryvnias.

The situation in the market is also being looked at by the Antimonopoly Committee. The investigation continues, but so far no evidence of collusion among market participants has been found.

Head of the AMCU Pavlo Kyrylenko, speaking in the Verkhovna Rada in 30 April, stated that there are no grounds to speak of abuse of monopoly position. He tied the rise in fuel costs to the crisis in the Middle East.

Earlier, Yulia Sviridenko announced that Ukrnafta would sell fuel with minimal trading margin. Such an approach was supposed to become a benchmark for formulating prices on the market.

The government is also working with international partners to increase fuel imports. This should help boost supply on the Ukrainian market.

At the same time, the cashback program for fuel has already ended. From 20 March to 31 May, nearly 2,3 million Ukrainians used it.

Under the program, drivers received reimbursements of 15% of diesel, 10% of gasoline, and 5% of autogas. Accumulated funds had to be used by 30 June inclusive, after which any unused balance was to be returned to the state budget.