The average retail price of diesel fuel in Ukraine had risen to 88.88 UAH per litre as of the morning of 29 July, according to the «A-95» Consulting Group. A-95 petrol costs an average of 80.87 UAH, whilst premium A-95 costs 84.14 UAH. Since the start of July, diesel has risen by 12.82 UAH per litre and is becoming more expensive at almost twice the rate of regular petrol.
Briefly about the main points
- The average price of diesel is 88.88 UAH per litre.
- A-95 petrol is sold at an average price of 80.87 UAH.
- Since the start of July, the price of diesel has risen by 12.82 UAH.
- At some petrol stations, a litre of diesel costs 92.90 UAH.
- The price is influenced by oil, logistics and the European market.
What are the prices at petrol stations?
According to consolidated data from the «A-95» Consulting Group as at 28 July, the average petrol price A-92 costs 77.66 UAH per litre, whilst autogas costs 42.10 UAH. Over the past 24 hours, the price of diesel has risen by 70 kopecks, and that of autogas by 57 kopecks. Meanwhile, A-95 and premium A-95 both fell by four kopecks, effectively remaining close to their recent highs.
The price variation between petrol station chains remains significant. A litre of A-95 costs approximately 77–85.40 UAH, premium A-95 — 80.99–88.40 UAH, and diesel — 82.95–92.90 UAH. The highest prices are mainly found at OKKO, WOG and SOCAR.
Diesel has become the main driver of price rises
At the start of July, the average price of diesel was 76.06 UAH per litre, and that of A-95 was 74.61 UAH. Since then, the price of regular petrol has risen by 6.26 UAH, or 8.4%, whilst diesel has risen by almost 17%. The gap between their average prices now exceeds eight hryvnias.
A significant rise occurred in the second half of the month. Over the weekend of 17–20 July, A-95 rose by 1.50 UAH and diesel by 1.70 UAH; at that time, 25 petrol station chains and 29 diesel operators revised their prices.
Why lower Brent prices do not guarantee a rapid fall in prices
Retail prices are under pressure from higher oil prices and supply risks due to Strait of Hormuz, complications in maritime logistics, exchange rates and limited supply of the commodity in Europe. In July, Brent crude exceeded $90 per barrel, which drove up the price of refined petroleum products on the European market.
Following a lull in hostilities between the US and Iran Brent has fallen to around $92 per barrel. This may ease the pressure on future purchases, but does not mean an immediate drop in prices at the pump: operators are still selling fuel purchased at higher prices. The situation regarding shipping remains unstable following the latest escalation on 28 July.
The International Energy Agency’s July review indicates that, whilst the crude oil market remains relatively well-supplied, it is the markets for refined products — diesel and petrol — that have tightened. Refining margins reached a four-year high at the start of the month. This may explain why diesel reacts more strongly to market risks than petrol.
For petrol, the switch to the E10 standard from 1 July was an additional factor. The Director of the «A-95» Consulting Group» Sergey Kuyun attributes the difficulties to insufficient domestic production and the inability of foreign suppliers to rapidly scale up to the required volumes. The legislation stipulates that petrol must contain more than 7% by volume of bioethanol, subject to certain exceptions.
