The Cabinet of Ministers of Ukraine has adopted two decisions that will allow avoiding a shortage of fuel at gas stations and curb the growth of its price as much as possible.

Yulia Sviridenko, First Vice Prime Minister of Ukraine, Minister of Economy of Ukraine, wrote about this on her Facebook page.

“We approved changes to the formula by which we calculate the maximum allowed price of fuel at gas stations: we increased the price of logistics and the surcharge to quotes in North-Western Europe (NWE). This will allow filling station networks to include in the calculation the additional costs incurred after the reorientation of supplies from Belarus and Russia to the western border of Ukraine (Poland, Romania, Hungary),” she states.

According to her, the increase in the formula gives an economic incentive to the networks to import more fuel (according to the calculation formula, which was adequate before the war, now it is unprofitable for the networks to carry oil products).

“At the same time, such a decision would lead to an increase in prices, which the government cannot allow, because fuel is a socially important commodity. Therefore, we made another decision - we submitted for adoption by the Verkhovna Rada a bill abolishing the excise tax on fuel and reducing the VAT rate from 20% to 7%. This significantly reduces the amount of taxes that previously amounted to more than half of the price,” notes Yulia Sviridenko. Both decisions will take effect at the same time.

“We will apply the new formula as soon as the Verkhovna Rada votes for lowering taxes. As a result, the networks will deliver more fuel, and the price will not rise,” she says.

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