• Українською
  • Ministry of Economy: In six months, Ukraine has grown fuel imports 12 times, there is no more commotion in the market
    Ministry of Economy of Ukraine, posted 02 September 2022 10:08

    If in March 58,800 tons of gasoline, diesel fuel, and liquefied gas were imported, then in August – 709,500 tons.

    First Deputy Prime Minister - Minister of Economy of Ukraine Yulia Svyridenko told.

    "Following the attacks of the russian federation on the fuel infrastructure of Ukraine, we are critically dependent on the import of oil products. That is why the Government created the conditions for intensifying the import of fuel from abroad. Priority was given to the entry of motor vehicles with petroleum products into Ukraine, exсeption registration of fuel at the borders was ensured, compensation for losses due to military actions was provided for, insurance of railway and tank trucks, as well as vessels of other countries transporting fuel was introduced.

    Even at the beginning of the full-scale war, the excise tax on oil products was abolished, and the VAT was reduced from 20 to 7%. The regulation of fuel prices was also suspended to allow operators to replenish their stocks faster. All these in the complex made it possible to increase the volume of imports by 12 times", said Yulia Svyrydenko.

    • In March, Ukraine imported 58,800 tons of fuel.

    • In May – 380,800 tons.

    • In August – 709,500 tons.

    "If in March we imported an average of 827 tons of gasoline and 1,400 tons of diesel fuel per day, then in August – 4,200 and 16,900 tons, respectively. On the market, we can see the gradual accumulation of reserves of petroleum products due to the constant growth of import volumes. That is why today there is no hyped demand for fuel, there are no queues at gas stations, and prices do not show a tendency towards rapid growth. According to consumption forecasts in September-December, Ukraine needs 500-550 thousand tons of fuel every month. We import larger volumes, which allows us to fully meet the needs of the Armed Forces, as well as emergency and communal services, farmers, and public transport," informed the First Deputy Prime Minister - the Minister of Economy of Ukraine.

    She emphasized on the reorientation of fuel imports in the western direction, which occurred after the russian invasion.

    "Today, we receive 95% of imported gasoline and 72% of diesel fuel from EU countries. The supply leaders are Romania, Lithuania, Slovakia, Greece, Bulgaria and Poland. Therefore, quite quickly we were able to radically change the vector of oil product imports in such a way as to receive them in sufficient quantities to cover all our needs," said Yulia Svyrydenko.

    As was reported earlier Ukraine received 25,000 tons of gasoline from the Polish reserve in the form of humanitarian aid.