Ukrainian petrol retailers are bracing for a new price adjustment after the government has updated road fuel price ceilings Thursday.
Unsurprisingly, the announced price adjustment is not downward one. According to the statement from Ukraine’s economy ministry, the new price ceiling for a litre of petrol has been set at 32,92 hryvnas per litre (+0,95 hryvna compared to early January), while diesel pricing has grown by 1,34 hryvnas and now stands at 32,16 hryvnas per litre.
The uptick in price ceilings will mean a rotten time for Ukrainian drivers next time they come to fill up their cars at the pumps
The onset of Covid pandemic put a strain on petrol and diesel retailers driving prices up, which made Ukrainian government intervene last May bringing in price controls with price adjustments now worked out by state energy company Naftogaz Ukrainy. Back then, petrol and diesel got fixed trade margins – 5 hrynas and 7 hryvnas per litre respectively.