Ukraine Retail Fuel and Diesel Prices Rise Up To 10% in September 2024
Rising Fuel Prices and Market Influences in Ukraine
Recent Price Increases and Market Data
KYIV, Sept 18 (Reuters) - Retail prices for motor fuel in Ukraine have risen by 8% to 10% since the start of the month, tracking gains in European prices, and diesel has edged close to the psychological threshold of 100 hryvnias ($2.24) per litre, fuel news agency Enkorr said.
Ukraine is fully dependent on imported fuel because Russian missile attacks have destroyed all of Ukraine's oil-refining capacity.
Globally, fuel prices have been inflated by disruption caused by the U.S.-Israeli war on Iran.
Data from Enkorr showed that the average price of petrol rose 10% in September to 88.3 hryvnias per litre as of September 17, while diesel prices climbed 8% to 98.2 hryvnias per litre.
Wholesale Diesel Prices Surpass Key Threshold
Enkorr said in a report that offers for wholesale batches of diesel fuel above 100 hryvnias per litre had already appeared in some Ukrainian regions.
Government Response and Market Dynamics
"The delay in price adjustments by market makers is linked to a government request to wait for a reversal in external markets. So far, however, that hope has not materialised: European quotations have eased slightly but remain too high to stabilise domestic prices," Enkorr said.
Seasonal and Geopolitical Factors
Demand for diesel traditionally rises in autumn due to the sowing campaign, as agricultural machinery primarily runs on diesel fuel.
Impact of Russian Attacks and Ukrainian Countermeasures
Russia has intensified attacks on Ukrainian petrol stations, both in the capital, Kyiv, and in frontline eastern regions, where it is seeking to disrupt logistics for Ukraine's military.
Ukraine has also targeted Russian refineries, causing major disruption to Russian fuel supplies.
Exchange Rate and Reporting Credits
($1 = 44.6916 hryvnias)
(Reporting by Pavel Polityuk; editing by Barbara Lewis)
