KYIV, March 17 (Reuters) - Ukraine's petrol imports more than doubled in February to 190,000 metric tons, driven by a surge in demand for fuel from households using small generators to cope with power
Ukraine’s Petrol Imports Double in February Amid Soaring Demand and Power Cuts
Surge in Fuel Imports and Market Dynamics
February Sees Sharp Increase in Petrol Imports
KYIV, March 17 (Reuters) - Ukraine's petrol imports more than doubled in February to 190,000 metric tons, driven by a surge in demand for fuel from households using small generators to cope with power cuts, Kyiv-based analyst Enkorr said on Tuesday.
Continuation of January’s Blackout Trend
The high rate was a continuation of the trend seen in January, when the country was plunged into darkness after Russian attacks on Ukraine's power system caused long blackouts, prompting households and small businesses to use petrol and diesel generators to secure their own power supply.
Diesel Imports and Key Suppliers
Earlier this month, Enkorr reported that Ukraine imported 457,000 tons of diesel fuel in February, compared with 395,000 tons a year earlier.
Major Fuel Sources
Enkorr said petrol supplies from Poland's Orlen dominated February's volumes, followed by those from Greece's Hellas.
Market Outlook and Price Trends
Predictions for March Imports
Analysts, however, predict imports will decline in March due to falling demand from small power generators, maintenance at several refineries in Europe, and the situation in the Gulf.
Impact of Rising Prices
"A sharp rise in domestic prices could also curb fuel consumption. Due to the war in the Middle East, the price of gasoline has risen by about 10% since early March," Enkorr said in a report.
Government Response and Fuel Security
Ukrainian Prime Minister Yulia Svyrydenko last week said that Ukraine currently has enough fuel to meet consumer demand, and panic on the market is gradually subsiding.
Ukraine’s Dependence on Fuel Imports
Ukraine is now entirely dependent on fuel imports after Russia virtually destroyed all of Ukraine's oil refineries.
(Reporting by Pavel Polityuk; Editing by Kirsten Donovan)
