Serhii Kuiun, Director of A95 Consulting Group, Media Center Ukraine — Ukrinform.
October 20, 2022, 13:38

Reduction in oil production in world fails to affect Ukrainian market, experts predict stabilization of prices at gas stations in near future

Azerbaijan, Kazakhstan and russia decided to drastically cut oil production, which led to a sharp increase in fuel prices. If at the end of September oil cost USD 85 per barrel, now its price is USD 97. The price of diesel fuel increased by 20%, gasoline increased in price by 7-8%.

Serhii Kuiun, Director of A95 Consulting Group made this statement at Media Center Ukraine — Ukrinform.

“But for this decision by the oil-producing countries, the Ukrainian consumer wouldn’t have felt that the tax was added at all,” — he said.

However, there is already a drop in the price of oil to $90 per barrel: “The Ukrainian market has already stabilized wholesale fuel prices, accordingly, they will soon be stabilized at gas stations as well.”

According to the expert, the season of active consumption of petroleum products is over. This happened without sharp jumps in prices, which suggests that the market is successfully operating with new supply routes established.

“If we have calmly passed the peak of consumption, then the so-called “dead season” won’t lead to any problems with any brand of fuel,” — Serhii Kuiun added.

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