WOG and OKKO companies were among the first fuel retailers who announced suspension of fuel sales citing the new regulation of prices imposed the Ukrainian government.
WOG announced it was ‘made to stop sales of the premium fuels 95 Mustang and Diesel+ Mustang fuels’, while OKKO said they were ‘temporary halting sales of Pulls 95 and Pulls’ Diesel fuels since the prices set by the Government for May were to bring losses to the company’.
Both of the companies were referring to the new ceiling trade markups made effective May 15 that are part of the latest update of the Government policy no.1236. Under this update, fuel retailers in Ukraine face capped trade mark-ups of 5 hryvnas per litre for gas and 7 hryvnas per litre for diesel.
According to officials, the policy is a ‘temporary necessary measure’ imposed for the quarantine period.
The decision drew criticism from fuel retailers and business associations.