OKKO estimates share of counterfeit fuel in Ukrainian market at 30%

18:02, 13.07.2015 1 min read

The share of counterfeit fuel in the market of Ukraine in the current year will be at least 30%, OKKO Vice President for Commercial Affairs Yuriy Kuchabsky has stated.

"I think this year the share of counterfeit gasoline will be at least 30%, nearly every third liter of fuel in the market. In monetary terms the state will lose about UAH 5 billion in excise tax and VAT," he said in an interview with the Business edition.

According to him, one can find petrol at a price being UAH 3 per liter lower than the price in the OKKO fuel stations chain, which is lower than the purchase price under direct contracts with the manufacturer.

As reported, Galnaftogaz Concern operates one of the largest fuel filling networks in Ukraine. It consists of about 420 filling stations under the OKKO brand. The majority shareholder of the company is Vitaliy Antonov.