Economy 2021-04-15T04:04:48+03:00
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Fuel Price Rise Has Insignificant Effect On Cost Of Products - Economic Transformation Institute Director Nesk

Fuel Price Rise Has Insignificant Effect On Cost Of Products - Economic Transformation Institute Director Neskhodovskyi

rise in fuel prices, fuel prices, cost of products

Director of the Institute for Socio-Economic Transformation Illia Neskhodovskyi says that the rise in fuel prices has little impact on the cost of food.

He announced this to Ukrainian News Agency.

"If we have an increase in the price of transportation, in particular due to an increase in fuel prices, then yes - this really leads to an increase in the price of some commodity groups, depending on the share of logistics costs in the cost structure," he said.

Neskhodovskyi noted that usually the share of logistics in the cost structure is 4-10%.

"Therefore, an increase in the cost of transportation, for example, even two times, can at most lead to an increase in the cost of products by 5%," he stressed.

As Ukrainian News Agency earlier reported, the Cabinet of Ministers expects prices for gasoline, diesel fuel and automobile gas to stabilize by the end of March.

Also, fuel market experts predict an increase in gasoline prices by UAH 1.5-1.8 per liter in March.

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