Economy 2022-05-15T04:49:00+03:00
Ukrainian news
Cabinet Sets Maximum Level Of Trade Markup Of UAH 5 Per Liter For Gasoline And UAH 7 Per Liter For Diesel Fuel

Cabinet Sets Maximum Level Of Trade Markup Of UAH 5 Per Liter For Gasoline And UAH 7 Per Liter For Diesel Fuel, Links Prices To Platts Indicators

HELP UKRAINIAN NEWS
Cabinet of Ministers, gasoline, diesel fuel, gasoline price, diesel fuel price, trade markup

The Cabinet of Ministers has set the maximum level of the trade markup of UAH 5 per liter for gasoline and UAH 7 per liter for diesel fuel and linked prices to the indicators of the Platts CIF NWE international news agency.

The Ministry of the Development of Economy, Trade and Agriculture has said this in a statement, Ukrainian News Agency reports.

According to a report on the website of the Ministry of Economy, the maximum trade markup is charged to the average cost of fuel, which will be determined on the basis of data from the Platts CIF NWE international news agency for the previous decade, taking into account excise duty and value added tax.

In particular, for gasoline, the maximum level of the trade markup is set at UAH 5 per liter, and for diesel fuel at UAH 7 per liter.

"The imposition by the Government of maximum trade markups on fuel is a forced and temporary measure during the quarantine period. It is a response to the unreasonable increase in fuel prices in retail chains. The government stands for healthy and transparent competition in the fuel market. But at the same time, the government must protect ordinary consumers. The maximum trade markup will make it impossible to manipulate prices, stabilize the retail fuel market and introduce a transparent pricing mechanism," said Minister of the Development of Economy, Trade and Agriculture Ihor Petrashko.

It is noted that this decree comes into force on May 15.

Besides, information on the average cost of one liter of diesel fuel and gasoline for automobiles is published on the official website of the Ministry of Economy every month until the 3rd, 13th and 23rd.

As Ukrainian News Agency earlier reported, the European Business Association considers the state regulation of prices for gasoline and diesel fuel, established during the quarantine period, to be unacceptable.

Earlier, the Cabinet of Ministers approved the inclusion of certain types of fuel in the list of goods that have important social significance, which provides for the mandatory declaration of an increase in fuel prices by more than 1%.

This decision came into force on May 12.

Also, Consulting Group A-95 director Serhii Kuiun says that state regulation of prices for gasoline and diesel fuel will destabilize the market and will hit the state budget.

 




News

ok