Petrol prices to rise in Ukraine
The National Bank voiced a disappointing inflation forecast
Petrol willbecome more expensive in Ukraine until the end of 2023, but prices willstabilise next year. The reason was the increase in taxes in the country from 1July.
This isstated in the InflationReport of the National Bank of Ukraine (NBU) for October 2023.
It is notedthat in September the growth of fuel prices resumed at 6.2% y/y. The reason wasthe restoration of full-fledged taxation – according to NBU estimates, it gaveabout 0.7 p. p. direct contribution to changes in the Consumer Price Index in2023, as well as the growth of world oil prices.
In theshort term, the National Bank predicts that fuel price growth will accelerate,which will also have an indirect pro-inflationary impact on the cost of othergoods and services. From next year, fuel prices will stabilise due to a gradualdecline in global oil prices," the review said.
As of 2November 2023, the average fuel prices in Ukraine were:
- A-95premium petrol – UAH 58.35
- Petrol A-95– 55.52 UAH
- A-92 petrol– 53.65 UAH
- Diesel fuel– 55.79 UAH
- Automobile gas– 29.31 UAH
