Naftogaz Ukrainy from May 1, 2019 reduces the gas tariff for the population, the press service of the company has reported.

"Under the instruction of the Cabinet of Ministers of Ukraine, Naftogaz Ukrainy, together with the government representatives, has developed a new mechanism for determining the regulated price, which allows not only to avoid increasing the cost of gas for the population and thermal generation plants from May 1, 2019, but also to reduce it to UAH 8,247 per 1,000 cubic meters (the final retail price)," the statement reads.

It is noted that such an approach and such a level of prices were agreed at a meeting with the participation of Prime Minister of Ukraine Volodymyr Groysman and Naftogaz CEO Andriy Kobolev.

According to this mechanism, if the market price of gas for industrial consumers is lower than that established by the resolution of the Cabinet of Ministers of Ukraine dated October 19, 2018, the price for the population will fall in accordance with this. If the market price of gas for industry exceeds the government-determined level, the price for the population will remain at this level.