One of the largest gas station chains has begun lowering fuel prices
25 March 16:27
The UPG gas station chain has become one of the first major operators in Ukraine to begin lowering retail fuel prices.
This was reported by the industry publication Neftorink, according to "Komersant Ukrainian".
According to their data, gasoline prices at the network have dropped by 2 hryvnias per liter, and diesel fuel prices by 1 hryvnia.
New fuel prices
After the adjustment, fuel prices at the network’s gas stations are as follows:
- A-95 — 71.90 UAH/L
- A-95 — 74.90 UAH/L
- Diesel fuel — 84.90 UAH/L
- Heavy fuel oil — 87.90 UAH/L
The industry views these changes as the first sign of a possible market adjustment, provided other operators follow suit.
How prices have changed this year
Despite the current decline, fuel prices in Ukraine have risen significantly since the beginning of the year.
According to Naftorink:
- A-95 gasoline has risen in price by an average of 10.26 UAH per liter;
- diesel fuel — by 17.28 UAH;
- autogas — by 5.47 UAH.
What the fuel market expects
The network’s founder, Volodymyr Petrenko, previously stated that prices at Ukrainian gas stations could return to late-February levels if the war in the Middle East ends.
According to market participants, this conflict has been one of the factors driving up the prices of oil and petroleum products.
An additional incentive: the cashback program
Meanwhile, a program offering partial reimbursement of fuel costs has been in effect in Ukraine since March 20.
Under the program
National Cashback
you can receive:
- 15% cashback on diesel;
- 10% on gasoline;
- 5% on autogas.
The maximum reimbursement is up to 1,000 UAH per person per month, and the program will run until May 1.
