This is reported by RBK-Ukraine, referencing data from the Ministry of Economy. Reports are also made by Kontrakty.UA.
In 2024, gas prices increased by 12.4%. However, the dollar exchange rate rose by 10.7% over the year, resulting in minimal growth when expressed in dollars.
Prices in Europe
Currently, gas prices in Europe stand at 510 dollars per thousand cubic meters (21,600 hryvnias).
At present, the cost of fuel in the EU is approximately 20% higher than a year ago, as this winter in Europe is colder than last year, leading to increased gas consumption from storage.
Price Forecast
The NBU expects that natural gas prices in the European market will gradually decrease over the forecast horizon due to increased LNG production globally, primarily in the USA, Qatar, and Australia.
The NBU projected that in 2024, prices would drop by 20.5% to 370.1 dollars per thousand cubic meters, rise by 3.9% to 384.7 dollars in 2025, and fall by 12.5% to 336.5 dollars in 2026.
Gas Prices for Households
In Ukraine, there is a moratorium on raising gas prices for households. Essentially, all gas is sold to households by the state-owned "Naftogaz of Ukraine" at a price of 7,960 hryvnias per thousand cubic meters (including VAT, but excluding delivery).
The Ukrainian authorities, in a letter of intent to the IMF leadership, allow for a gradual increase in utility rates for the population during the war. Rates will rise as soon as "conditions permit." In the post-war period, rates will also increase.