Increase of fuel excise duties in Ukraine offsets effect from oil price fall

13:40, 13.01.2016 1 min read

The increase of excise duties on fuel in Ukraine offset the effect from global oil prices fall, Head of the marketing department at OKKO filling station chain Vasyl Dmytriv has said.

"Taking into account December supplies, one could expect a decline in the prices in early January. Unfortunately, the reduction of the global fuel prices was offset by the increase in excise duties on fuel in Ukraine from January 1, 2016 by 13% and changes in the retail excise duty. The tax burden grew by 70 kopecks per liter from January 1 on average," he told Interfax-Ukraine.

Dmytriv said that the fall in the prices at Ukrainian filling stations could be seen if the oil prices continue falling, and the hryvnia exchange rate would remain stable.