The increase in fuel prices will accelerate at the end of 2024.
The National Bank of Ukraine predicts a gradual but inevitable increase fuel prices in Ukraine. The main reason is the gradual increase in excise taxes on fuel by 2028, which will bring them closer to European standards.
This is stated in the NBU report.
According to the NBU forecasts, the growth of fuel prices will accelerate in late 2024 – early 2025, when reserves are exhausted, and the impact of increased excise taxes and the weakening of the hryvnia will become more noticeable.
“Currently, the rate of growth of fuel prices is slowing down due to the effect of the comparison base associated with tax changes last year and the presence of fuel reserves formed before the increase in excise taxes. However, this effect will be temporary,” the department noted.
The increase in fuel prices will be insignificant – approximately 1-1.5 UAH/l. However, by 2028, prices may increase by 8-9 UAH/l due to a further increase in excise taxes. Fuel prices in Ukraine are also affected by world oil prices and exchange rates.
Earlier it became known that in Ukraine from September the increase in fuel prices will be almost imperceptible even after the increase in excise taxes. Only autogas may become significantly more expensive.
It will be like in Europe – a liter of gasoline may become more expensive up to 80 hryvnia!
