KYIV, April 8 (Reuters) - Ukraine imported record volumes of fuel in March despite market turbulence caused by the Iran war and will maintain the pace of imports in April, Prime Minister Yulia
Ukraine Imports Record Fuel Volumes and Calls for Lower Prices Amid Market Turbulence
Record Fuel Imports and Price Dynamics in Ukraine
Impact of Market Turbulence on Fuel Imports
KYIV, April 8 (Reuters) - Ukraine imported record volumes of fuel in March despite market turbulence caused by the Iran war and will maintain the pace of imports in April, Prime Minister Yulia Svyrydenko said on Wednesday, urging traders to lower prices.
Dependence on Imported Fuel
With Russian attacks having destroyed its domestic refining capacity, Ukraine now depends almost entirely on imports for its diesel and gasoline needs.
Price Surges and Agricultural Concerns
After the outbreak of the conflict in the Gulf, diesel prices nearly doubled, raising concerns among farmers as they began the spring sowing campaign, which is critical for the country.
Government Response and Market Expectations
Prime Minister's Statement on Price Trends
"We are recording a decline in quotations on the major exchanges, which should have a direct impact on fuel prices in Ukraine," Svyrydenko said on the Telegram messenger.
Actions by State-Owned Ukrnafta
She said state-owned firm Ukrnafta had already begun lowering prices and she believed that if the global trend continues, a "more substantial decrease" is expected.
"The (Ukrainian) market should respond fairly to changes in the pricing environment," she noted.
Seasonal Diesel Demand in Ukraine
Diesel demand in Ukraine traditionally peaks in the spring, when farmers sow spring crops, during the harvest in the second half of summer, and in early autumn, when winter grains, mainly wheat, are planted.
(Reporting by Pavel Polityuk; Editing by Kim Coghill)
