Prime Minister of Ukraine Denys Shmyhal expects that NJSC Naftogaz Ukrainy and other suppliers will reduce the price of natural gas in the summer as a price offer for one year.

"The established rules allow gas suppliers to reduce prices as a price offer for one year. That is, in the summer, when the price of gas at European hubs traditionally begins to decline, Ukrainian companies will have more opportunities to reduce prices," he wrote on his Facebook page.

According to him, the price reduction may be seen thanks to competition between suppliers and their plans to maintain or expand their market share. "It is the competition that should push gas suppliers to cut tariffs," the prime minister said.

"At the same time, the price offer for one year is stability and the ability to very clearly understand and predict one's costs. The price offer for one year is a market instrument and European practice that protects consumers from gas price fluctuations and at the same time allows maintaining all the advantages of an open gas market. Important that Ukrainians will be able to choose and change a supplier in the future according to the criteria of price and quality of services," Shmyhal said.