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Economy Ministry Reduces Maximum Cost Of Gasoline By 23.2% To UAH 33.42 Per Liter

On March 18, the Ministry of Economy reduced the maximum price of gasoline (taking into account the maximum level of trade markup) by 23.2% to UAH 33.42 per liter, diesel fuel - by 17.5% to UAH 37.05 per liter.

The ministry has said this in a statement, Ukrainian News Agency reports.

"According to the requirements of paragraph 414 of the Resolution of the Cabinet of Ministers dated December 9, 2020 No. 1236 "On the establishment of quarantine and the introduction of restrictive anti-epidemic measures in order to prevent the spread of acute respiratory disease COVID-19 caused by the coronavirus SARS-CoV-2 in Ukraine" based on the calculations of the Naftogaz of Ukraine national joint stock company determined the average cost of 1 liter of diesel fuel ULSD 10 ppm, which is UAH 32.05, and 1 liter of motor gasoline GASOLINE 10 ppm, which is UAH 28.87," the statement says.

Thus, taking into account the maximum level of the trade markup, the maximum price of gasoline is UAH 33.42 per liter, and diesel fuel – UAH 37.05 per liter.

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As Ukrainian News Agency earlier reported, on March 15, the Verkhovna Rada abolished the excise tax on fuel and reduced the rate of value added tax (VAT) on its supplies and imports from 20% to 7%.

On March 13, the Ministry of Economy increased the maximum price of gasoline (taking into account the maximum level of trade markup) by 13.5% to UAH 43.52 per liter, diesel fuel - by 25% to UAH 44.9 per liter.

Earlier, the Cabinet of Ministers set the maximum markup of UAH 5 per liter for gasoline and UAH 7 per liter for diesel fuel and tied prices to the data of the international information agency Platts CIF NWE.

At the same time, on February 9, 2022, the Cabinet of Ministers reduced the maximum level of the trade markup to UAH 4.55 per liter for gasoline and to UAH 5 per liter for diesel fuel.

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