Prime Minister of Ukraine Arseniy Yatsenyuk gave a commission to the Minister of Energy and Coal Industry of Ukraine to summon a meeting with the Antimonopoly Committee of Ukraine and fuel market operators to consider reducing fuel prices due to the falling crude oil prices. The Head of Government appealed to the AMCU to adopt a transparent pricing formula for petroleum products at the Cabinet meeting on Wednesday, January 13.

"The oil price is now 30 dollars, but our petroleum stations still have the same price settings as a month ago", urged Arseniy Yatsenyuk.

"It's not administrative pressure. It concerns exceptionally the economic prerequisites to cut the cost of petroleum products at petrol stations. If the price of oil makes up US $ 30, it’s easy to calculate: area, VAT, transport, excise taxes. Hence, today we see that it is possible to reduce prices of petroleum products at petrol stations. I emphasize - applying only market-based methods. The less is the price for crude oil, the lower should be the indicator on the fuel nozzle”, stressed the Prime Minister.

Arseniy Yatsenyuk also stressed the need to implement a commission by the Antimonopoly Committee and elaborate in synergy with petroleum market operators "a pricing formula for oil products depending on the price in the crude oil global market".

"The lower is the price in the crude oil global market, the lower the price for fuel will be at the petrol station, and vice versa. It should be an open transparent formula and a fair approach. So far, for the past three months the Antimonopoly Committee of Ukraine has failed to do it. I believe they will find certain mechanisms", stressed the Prime Minister.