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Government working on models to support consumers due to significant increase in oil prices - Svyrydenko

Yuliia Svyrydenko. Photo: CMU
Yuliia Svyrydenko. Photo: CMU

The Cabinet of Ministers is developing models of consumer support in connection with a significant increase in prices for petroleum products. Prime Minister Yulia Svyrydenko announced this on her Telegram channel, the Ukrainian News agency reports.

"Separately, Economy Minister Oleksii Sobolev, together with the Ministry of Finance and the Ministry of Energy, are working on possible support models for those categories of consumers who will need help most due to a significant increase in oil prices," she said.

Svyrydenko said that she had met with key representatives of the oil products market, and they coordinated further actions in connection with the current situation on the fuel market, which, according to her, has mainly external causes.

"Our common task is to ensure uninterrupted availability of fuel in the country. The government expects that market operators - both the state-owned Ukrnafta and private companies - will ensure proper filling of the market with fuel and its stable availability for consumers across the country," she said.

Svyrydenko emphasized that fuel prices should be formed fairly, taking into account the current situation, in particular on world markets, but without internal speculation, Ukrnafta will act as a benchmark for a fair price on the market.

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According to her, the regulatory authorities, in particular the Antimonopoly Committee and the State Service of Ukraine for Food Safety and Consumer Protection, should properly monitor the price situation and respond to cases of possible market speculation, while it is important to ensure that their work does not create unreasonable pressure or obstacles to fair business.

First Deputy Prime Minister and Minister of Energy Denys Shmyhal was tasked with ensuring daily coordination with market representatives on the basis of the Ministry of Energy to promptly resolve current issues, including those arising in the work of market operators.

As the Ukrainian News agency earlier reported, on March 6, Prime Minister Yuliia Svyrydenko said that the Cabinet of Ministers is implementing a set of measures to stabilize the fuel market.

The Ministry of Economy said that a possible increase in fuel prices currently does not have a critical impact on the economy of agricultural production, fuel can account for 10-15% of the cost of certain crops, so even if it rises in price, the impact on the final cost of production is estimated at only 1-2%.

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