Gasoline prices in Ukraine may rise sharply – Razumkov Center energy program director Omelchenko

Due to market instability and the danger of shipping in the Strait of Hormuz area, gasoline prices in Ukraine may increase significantly.

Volodymyr Omelchenko, director of energy programs at the Razumkov Center, has stated this in a comment to the RBC-Ukraine YouTube channel, the Ukrainian News agency reports.

Omelchenko explained that shipping in the Strait of Hormuz area is facing security control difficulties due to the conflict in the Middle East.

"If we take the base scenario, that there will be no massive attack on ships in the Gulf of Hormuz, the conflict will last for several weeks at an average intensity, such as it is approximately now.

And then the price may be at this level of USD 75-80, plus or minus a few percent (per barrel)," the expert explained.

Accordingly, according to the director of energy programs of the Razumkov Center, the price of gasoline at Ukrainian gas stations may also increase.

"It is already growing, although inertia has not yet reached our oil products, but under this pretext some networks are reacting and trying to earn excess profits.

Therefore, the Antimonopoly Committee of Ukraine will play a significant role here, how effectively it will work," he said.

The expert explained that if the committee does not work satisfactorily, then perhaps the price jump at Ukrainian gas stations may be quite powerful, up to UAH 65 per liter of A-95 gasoline, and possibly higher.

It is noted that The New York Times reported that Iran has already allegedly prepared missiles and other weapons for possible attacks on American facilities in the region in the event of direct US involvement in the conflict.

American officials also note that if the US strikes Fordow, Iran will almost certainly respond through its proxy forces - the Houthis, as well as militants in Iraq and Syria.

The strike could also provoke mining of the Strait of Hormuz, which would endanger the movement of American warships in the Persian Gulf.

Moreover, Iran itself has threatened to block the Strait of Hormuz with sea mines, and it will be quite difficult to find and neutralize explosive devices.

The report says that the price of gasoline in Ukraine has already risen recently due to a jump in world oil prices.

As the Ukrainian News agency earlier reported, on June 13, oil prices soared by 13%, reaching their highest level in almost five months after Israel launched strikes on Iran, which exacerbated the situation in the Middle East and raised fears of oil supply disruptions.