Oil prices will fall despite the situation in Iran, as the market is already calming down, according to a fuel market expert.

Currently, gasoline prices are being adjusted and will be around 70 hryvnia per liter, according to Serhiy Kuyun, a fuel market expert, speaking at the Ukraine Media Center.

“No matter how the war in Iran ends, the result will be the same – oil prices will fall. The straits will be unblocked and the reason for the price increase will disappear. Demand has already started to decline. The price was also driven up by the hype surrounding this fuel. This added to the panic. Not only in Ukraine, but throughout the world,” he said. 

Serhiy Kuyun noted that Ukraine has currently suffered more from the panic on the fuel market than from the situation in the Middle East.

Read more: https://mediacenter.org.ua/news