The National Bank of Ukraine predicts a gradual but inevitable increase in fuel prices in Ukraine. The main reason is the gradual increase in excise taxes on fuel until 2028, which will bring them closer to European standards. About this said in the NBU report.
According to NBU forecasts, fuel price growth will accelerate at the end of 2024 - at the beginning of 2025, when reserves will be exhausted, and the impact of the increase in 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 base of comparison, related to this year's tax changes, and the availability of fuel reserves formed before the increase in excise taxes. However, this effect will be temporary." - noted in the department.
The increase in fuel prices will be insignificant - approximately by 1-1,5 hryvnias/l. However, by 2028, prices may rise by UAH 8-9/l due to further increases 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 the cost of fuel will be almost imperceptible - even after the increase in excise taxes. Only autogas can become significantly more expensive.
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