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Fuel prices: What awaits us in October

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Photo: andreas160578/Pixabay

Photo: andreas160578/Pixabay

How much will gasoline prices go up in October?

An increase in quotations for the main types of oil products was recorded on the European markets. What prices for gasoline and diesel fuel await Ukrainians in October?


The cost of diesel fuel in the last week of September on European markets added 6%, gasoline went up in price by 4%. According to experts, the growth of European quotations puts pressure on the domestic wholesale prices of the Ukrainian market. This has already resulted in an increase in wholesale prices for diesel fuel by 780 UAH per tonne (+2.6%). small-scale wholesale consignments went up by 2%, or 50 kopecks per liter.

Industry experts commented on October retail price forecasts to The Page.


The growth of the European oil products market demonstrates some success in the fight against the pandemic, the European economy getting out of the recession, Leonid Kosianchuk, CEO of the SunOil filling station chain, says.

Now there is no reason for the prices at filling stations to fall. There are prerequisites that retail prices will rise from Monday, but we must wait for the Ministry of Economy to set it up. They should add about 50 kopecks to the price. As always, premium chains will react. They are the initiators of this state regulation. The middle and low price segment will react more restrainedly. In my opinion, the average price in the country may rise by 10-15 kopecks from a liter.

Leonid Kosianchuk

Leonid Kosianchuk

CEO at SunOil

In his opinion, this year seasonal factors do not have any particular impact on the oil products market. It is impossible to make an analysis of the previous year, since we saw a decline in consumption in previous years in these months, and in 2021 everything depends on the success in fighting against the pandemic.

Retail prices will rise unambiguously on Monday. We will not have sea liquefied gas deliveries by sea, which will also result in an increase in prices. Liquefied gas in the wholesale will go up in price and surpass the mark of 30,000 UAH per ton, and this price will be already at the beginning of October. For example, today one can find 29,000 per ton.

Oleksander Sirenko

Oleksander Sirenko

analyst at the consulting company UPECO

Energy markets are now growing abnormally, so there is no question of normal market operation—each product has its own tendencies or inputs for growth, the expert explained.

The oil price is going up to $80 per barrel, but there are no preconditions for the increase to be sharp and significant somehow, Sergei Kuyun, Director of Consulting Group A-95, noted in a comment to The Page.

He stressed that now the price of oil products in Ukraine is regulated by the state, so market participants are waiting for the guidance from the Cabinet of Ministers on prices in early October.

It is obvious that gasoline and diesel will rise in price by at least 50 kopecks. Liquefied gas will also go up in price, but it will stay in the same fairway. October is always an active month, road and field work is underway. Therefore, it is too early to draw a conclusion about this season.

Sergei Kuyun

Sergei Kuyun

Director at Consulting group A-95

Context.

  • In order to level the price "swing" for end consumers, the government imposed state regulation of prices for gasoline and diesel fuel in the spring. Every ten days of the month, the Ministry of Economy of Ukraine sets the threshold price levels for the retail sale of diesel fuel and gasoline grades A-92 and A-95.

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