The fuel market in Ukraine faces an inevitable review of its pricing policy. Pavlo Kyrylenko, Head of the Antimonopoly Committee of Ukraine (AMCU), stated the regulator's strict position on the «Suspilne» TV channel: retail gasoline prices must be lowered immediately. The basis for this is the sustained drop in global oil prices.
Index Drop as a Call to Action
According to the regulator, global oil indices have fallen by 17% recently. Kyrylenko emphasized that this figure is a «direct benchmark» for gas station operators. Under current conditions, key players in the refined petroleum products market must react to the changing market conditions.
«Right now is the moment when key players in the refined petroleum products market must start lowering prices», — stated the Chairman of the AMCU.
Diesel Cheaper, Gasoline Stagnant
An analysis of the current situation shows an uneven market reaction. Over the past week, the cost of diesel fuel has already dropped by 1–3 hryvnias. However, in the gasoline segment, there have been no significant changes, despite objective economic prerequisites.
The regulator insists: there is no point in delaying price corrections. The drop in oil prices is sequential, allowing retailers to act «here and now».
Warning About Collusion
Pavlo Kyrylenko also reminded market participants of the AMCU's recommendations. He urged networks to independently and promptly lower prices, avoiding cartel collusion, which, according to the regulator, was observed during the period of rising fuel costs.
Recall that back in April, the AMCU gave the largest gas station networks 10 days to align retail prices with economic factors. At that time, the committee head stated in the Verkhovna Rada that no evidence of collusion had been found, but warned that networks would face serious fines if violations were detected.