Gasoline and diesel prices in Ukraine have risen to their highest levels since the beginning of 2022

Wholesale prices for gasoline and diesel fuel in Ukraine increased sharply last week. According to the A-95 Consulting Group, during February 18-20, the average wholesale price for diesel fuel increased by UAH 1.37/l to UAH 53.32/l, and the price of gasoline - by UAH 0.5/l to UAH 52.5/l.

The reason for this was the rapid increase in fuel prices in Europe, where gasoline quotes increased by more than $35/t or UAH 1.37/l, and diesel fuel by UAH 2.23/l.

Large gas station chains — OKKO, WOG, and later UKRNAFTA and UPG, which are direct importers of fuel — immediately reacted to the increase in wholesale prices. Already at the weekend, prices at their gas stations increased by 1 UAH/l, reaching historical highs.

In the retail segment, average prices for gasoline and diesel increased by 50 kopecks/l, reaching the highest levels since the beginning of 2022. Thus, gasoline rose to UAH 61.49/l, and diesel to UAH 61.15/l.

At the same time, the spread between wholesale and retail prices for diesel decreased by UAH 0.67/l to UAH 8.07/l during the week, indicating the possibility of further adjustment of retail prices.
Due to frost and power outages in Ukraine in January, fuel sales at gas stations increased by 25% compared to December, as the population and businesses began to use generators en masse.

World oil prices have now reached a 6-month high, which will accelerate the growth of prices for petroleum products in Ukraine, especially against the backdrop of seasonally increased demand for diesel fuel during spring agricultural work.