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In Half a Year, Ukraine Has Increased Fuel Imports 12 Times, there is No More Boom in the Market
05.09.2022 | 08:15

If in March 58.8 thousand tons of gasoline, diesel fuel and liquefied gas were imported, in August - 709.5 thousand tons.

This was reported by the First Deputy Prime Minister - Minister of Economy of Ukraine Yulia Svyrydenko.

“After 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, extraordinary 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 more quickly. All this taken together made it possible to increase the volume of imports by 12 times”, Yulia Svyrydenko said.

  • In March, Ukraine imported 58,8 thousand tons of fuel.
  • In May – 380.8 thousand tons.
  • In August - 709.5 thousand tons.

“If in March we imported an average of 827 tons of gasoline and 1.4 thousand tons of diesel fuel per day, then in August - 4.2 thousand and 16.9 thousand tons, respectively. In 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 panic demand for fuel, there are no queues at gas stations, and prices do not show a tendency towards rapid growth. According to forecasts of consumption 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”, the First Deputy Prime Minister - Minister of Economy of Ukraine informed.

She emphasized the reorientation of fuel imports in the western direction, which took place 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, we were able to radically change the vector of oil product imports quite quickly in such a way as to receive them in sufficient quantities to cover all our needs”, Yulia Svyrydenko said.

We will remind that Ukraine has received 25 thousand tons of gasoline from the Polish reserve in the form of humanitarian aid.

Ministry of Economy of Ukraine 01008, Ukraine, Kiyv city,
Grushevsky str., 12/2