Expert explains how fuel prices will change after increase in excise taxes from September

Serhii Kuiun, director of the A-95 Consulting Group, told how fuel prices will change from September 1, when the first stage of the excise tax increase will come into effect.

He announced this on his Facebook page, the Ukrainian News agency reports.

"Increasing excise taxes, there is nothing to talk about - there is definitely no tragedy. However, there is a benefit. The tax on gasoline increases by UAH 1.5/liter, on diesel fuel - UAH 2/liter, on autogas – UAH 5/liter. In general, there is every chance to pass on gasoline and diesel imperceptibly, if the world market goes down in August. Gas will go up in price. But it still will remain a very profitable fuel. Now it is cheaper than gasoline by UAH 30, it will be by UAH 27," he wrote.

As the Ukrainian News agency earlier reported, the Verkhovna Rada increased excise duties on fuel within the framework of bringing Ukraine's tax legislation on excise tax into compliance with European Union legislation.

The law will enter into force on September 1, 2024.