Increase in fuel prices: the government has signed a memorandum

Photo: Uaenergy

Photo: Uaenergy

The Cabinet of Ministers and the Ukrainian Oil and Gas Association have signed a memorandum of intent to create a favorable environment, develop fair competition in the oil product market and meet the needs of consumers during the quarantine period.

"Over the past few weeks, we have had many meetings and discussions with the petrol station chains. The signing of this memorandum is evidence that compromise solutions have been found. Together, we must ensure price stability in the oil product market," noted Minister for Development of Economy, Trade and Agriculture Ihor Petrashko. He signed the memorandum on behalf of the government.

Under the terms of the memorandum, the association will provide the Cabinet of Ministers with non-commercial information on the forms, types and places of illegal fuel turnover and entities working with signs of violation of the law on a monthly basis.

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The government will take measures to counter illegal production and trafficking of fuel. It will also contribute to the diversification of the sources of fuel supplies from both domestic and foreign oil refineries, and free pricing in the oil product market.

The member companies of the Association undertake to continue to pay taxes in full, to form the price of oil products, taking into account the situation on the world markets.

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The Ukrainian Oil and Gas Association is an industry association representing the interests of the largest players in the oil and gas market. It includes 14 wholesale, retail, mining, and processing enterprises, including WOG, OKKO, Shell, AMIC, SOCAR, KLO, Parallel, Glusco, Ukrgasvydobuvannya, BNK-Ukraine, Anvitrade, Grand Prix Oil, Сentrnaftogazpostach.

It is stated that the Association members provide about 50% of retail trade and about 80% of imports of petroleum products.

Context. The Minister for Communities and Territories Development Oleksiy Chernyshov announced the need to check all petrol stations in Ukraine to prevent illegal fuel trafficking. He said this at a meeting with the leadership of the Ukrainian Oil and Gas Association and with the representatives of petrol station chains. During the meeting they discussed the results of working out the problem of illegal trade in fuel and unshadowing the market.

On March 11, the SSU and the State Tax Service began a large-scale operation at three oil depots and 105 petrol stations of the Glusco chain. On March 12, Glusco resumed the sales of liquefied gas and related products at some gas stations, but sales of gasoline and diesel fuel remained blocked, the company told The Page.

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