June 11, 2024, 15:56

Gas and diesel prices are expected to rise by 1,5-2 hryvnias following the excise tax increase, Serhii Kuiun says

There is no basis for speculating that fuel prices will soar to UAH 75-80 per liter following the excise tax going up. If the proposed law is enacted, any price hike is expected to be minimal.

Serhii Kuiun, a fuel market expert, clarified this information during a briefing at the Media Center Ukraine – Ukrinform. 

“Everyone is interpreting that prices will spike significantly, but this is not necessarily the case. The tax hike, particularly for gasoline and diesel, translates to an additional UAH 1.5 per liter for gasoline and UAH 2 per liter for diesel, which is a modest increase,” Kuiun explained. He added, “Even when applied to current prices, this is a minor increase, if any. Additionally, such fluctuations of 1.5-2 UAH are common in the fuel market, and consumers often don’t even notice them,” he explained.

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