- Gasoline and diesel prices in Ukraine are falling: what is the reason
- Gasoline prices increased, while diesel and autogas decreased: how prices at gas stations changed over the month
- Why gasoline prices are rising and when they will start to decrease
This is reported by RBC-Ukraine referencing data from the monitoring of "Consulting Group A-95." This information is also provided by Kontrakty.UA.
According to the monitoring data, the average retail prices on January 2, 2025, for A-95 gasoline are 55.55 UAH per liter (+4.07 UAH over the year), for diesel fuel 52.75 UAH per liter (+1.25 UAH), and for autogas 35.41 UAH per liter (+5.58 UAH).
Reasons for Price Changes
It is worth noting that in Ukraine, starting from September 1, 2024, excise taxes on fuel were increased. According to the calculations of the project's authors, the adoption of the law will lead to an increase in gasoline prices at gas stations by 1.50 UAH per liter, diesel by 1.95 UAH, and autogas by 5.8 UAH per liter.
In the autumn of 2024, fuel prices began to decrease due to large stocks held by sellers.
According to the NBU's forecast, the effect of significant fuel reserves will have a rather short-term downward impact on prices. As these reserves deplete and under the influence of further increases in excise taxes and the transfer effects from the weakening of the hryvnia exchange rate, the growth of fuel prices will accelerate to over 9% by the end of 2024 and will remain high throughout most of 2025.
The main factor influencing the price is the global oil prices, as Ukraine has been importing nearly all of its fuel since the beginning of the war. Throughout 2024, oil prices fell from 77 to 74 dollars, but remained relatively high for the entire year.
Another contributing factor is the dollar exchange rate, which increased by 10.7% to 42 UAH in 2024.