Kyiv expects further drop in pump prices amid falling crude costs

Fuel prices in Ukraine are expected to decline in line with falling global oil markets, Prime Minister Yulia Sviridenko said, as the state-run petrol station network Ukrnafta has already begun lowering prices at the pump.

Sviridenko said there is currently no fuel shortage in the country and described the domestic supply situation as stable, Caliber.Az reports via Ukrainian media. 

The prime minister said she had held talks with the head of Naftogaz of Ukraine to review developments on global oil and petroleum product markets. She noted that prices on major international exchanges are declining, which should directly affect retail fuel prices in Ukraine.

“The state-owned Ukrnafta petrol station network has already responded and begun to lower prices. If current global trends continue, a more significant reduction is expected,” Sviridenko said. “We expect a similar response from other market participants. The market must respond fairly to changes in the price environment.”

She added that fuel supply volumes reached a five-year high in March, with the upward trend expected to continue in April, underscoring what she described as a stable and well-supplied market.

By Sabina Mammadli