Ministry of Economy publishes new calculation method on average cost of petrol and diesel

The Ministry of Economy has published new calculations on the average cost of petrol anddiesel, based on which petrol stations can mark up their prices.Ukraine's NJSC Naftogaz provided the next calculation as of May 21.

This was reported on the Ministry of Economy website.

The estimated price of gasoline has been reduced from 25.22 hryvnia to 24.84 hryvnia per liter.Dieselprices remained at 20.89 Ukrainian hryvnia per liter.

Therefore, taking into account the maximum markup, the cost of petrol at petrol stations cannot exceed 29.84 hryvnia per liter anddieselfuel cannot exceed 27.89 hryvnia per liter.

Let us remind you that on May 15th Cabinet introducedregulations on state retail prices forgasoline and diesel.The Cabinet Decree setsa maximum retail price of 5 hryvnia forgasoline and 7 hryvnia for diesel.

At the same time, it was determined that the average cost of1 liter ofgasoline was 25.22 hryvnia, while that of diesel was 20.89 hryvnia.Taking into account profits, the maximum retail price at petrol stations is capped at 30.22 hryvnia for petrol and 27.89 hryvnia for diesel.

According to the decree, the NJSC "Naftogaz of Ukraine" submits calculations to the Ministry of Economy on a monthly basis until January, 11th and 21st.

After that, on May 17, prices at gas stations fell sharply.In particular, some large gas station chains have reduced the price of A-95 gasoline by 1-2 hryvnia.Also, before the government's decision, the average price of diesel was higher than the maximum price of 27.89 hryvnia.The network of petrol stations has reduced prices by 1-2 hryvnia to meet the new requirements.