The NBU explained why gas station prices have not fallen despite the drop in oil prices
9 May 00:01
Fuel prices at Ukrainian gas stations remain high, even though global oil prices fell in the middle of the month. The National Bank of Ukraine explains that the retail market does not react to such changes immediately. The cost of gasoline, diesel fuel, and autogas is influenced by pricing inertia and resource reserves that traders built up during the price peak. This is reported by "Komersant Ukrainian" citing a statement from the National Bank.
Why fuel prices didn’t drop immediately
According to the NBU, the Ukrainian market had previously seen a sustained rise in the cost of all types of fuel. Diesel fuel and autogas saw the fastest price increases.
Although global oil prices have fallen, this has not immediately been reflected at Ukrainian gas stations. The main reason is the inertia of pricing mechanisms.
In other words, prices at gas stations do not change in sync with oil exchange rates. There is a time lag between the drop in raw material prices on the global market and the decrease in retail prices in Ukraine.
Fuel stocks were purchased at higher prices
Another reason cited by the NBU is the significant fuel reserves accumulated during the price peak.
Ukrainian companies are currently selling fuel that was contracted earlier at a higher price. That is why, even after the drop in oil prices on global markets, fuel at Ukrainian gas stations cannot become significantly cheaper immediately.
This is particularly noticeable for diesel fuel, which previously showed the highest growth rates.
What’s happening with diesel fuel
Diesel fuel has become one of the types of fuel that has risen in price the fastest. That is why its price has attracted the most attention from drivers and businesses.
At the same time, the first signs of a correction have already appeared on the market. According to reports from industry media, diesel fuel prices at popular chains have dropped by 2 UAH per liter over the past day.
However, this does not yet mean a sharp collapse in prices. The decline may occur gradually, depending on remaining old stock, new purchases, and competition among chains.
What about gasoline
Gasoline prices at most chains remain largely stable.
At the same time, some operators have already begun adjusting their prices. In particular, it was reported that Ukrnafta lowered prices for A-95 and A-92 gasoline by 1 UAH.
This may be the first sign of a gradual price decline, but the market will continue to depend on fuel procurement costs, logistics, and inventory levels.
What about autogas
Autogas remains the most stable type of fuel. According to available data, prices for it in retail networks have not changed over the past 24 hours.
At the same time, the NBU previously recorded high rates of price increases specifically for autogas. Therefore, even with prices stabilizing, drivers have not yet seen a significant drop in costs.
Could prices at gas stations drop later?
A gradual decline in prices is possible if lower global oil prices take hold and the Ukrainian market begins receiving new fuel shipments purchased at lower costs.
However, a sharp drop in prices should not be expected. The retail price of fuel is influenced not only by oil prices but also by:
- exchange rates;
- logistics;
- taxes;
- storage and transportation costs;
- remaining fuel stocks from previous purchases;
- competition among gas station chains.
That is why lower oil prices do not guarantee an immediate drop in gasoline, diesel, or autogas prices for Ukrainian drivers.
Read us on Telegram: important topics – without censorship
