Kuyun forecasted how fuel prices in Ukraine will change before the New Year holidays.

Fuel market status and price forecast for December and January

Energy expert Serhiy Kuyun spoke about the state of the fuel market and made a forecast regarding price changes in December and January.

Ukraine expects a stable situation with fuel prices in December, but changes are possible in January. Of course, fuel consumption decreases in December due to the holiday period.

'Half of the month will be semi-holiday, so consumption will decrease. This is not a condition under which prices rise,' the expert noted.

Kuyun also emphasized that companies will stimulate sales and try to offer discounts during this period.

Starting January 1, excise taxes on fuel in Ukraine will increase, which will be an important factor in price formation. However, according to the expert, no significant price increase is expected.

'In January, taxes will increase by 1.5 UAH per liter. However, when new taxes were introduced in September, it did not affect gasoline and diesel prices, as the procurement price for oil significantly decreased during that period. This factor offset the excise increase. It is likely that the situation will be similar in January,' Kuyun explained.

The expert also noted that it is currently difficult to predict global oil prices in January.

Regarding the impact of the geopolitical situation, specifically, the escalation in Syria and Israel's activities, the expert noted that it has an indirect impact on the Ukrainian fuel market due to changes in global prices. However, currently, these events do not affect the fuel market either in Ukraine or globally.

Prices for gasoline, diesel fuel, and autogas at gas stations in the Odessa and Lviv regions changed in December.