Mideast ceasefire should help stabilize fuel prices in Ukraine - company

MOSCOW. April 8 (Interfax) - The ceasefire in the Middle East will hopefully help stabilize fuel prices in Ukraine, but in the near term, they will be at the level of prices on global markets as of the end of March, Ukrainian media reported, citing the Parallel chain of gas stations.

"Following the news about a possible two-week halt to strikes and the restoration of tankers' passage through the Strait of Hormuz, Brent crude prices fell from $110 per barrel on April 7 to $95 per barrel on April 8. WTI and Urals crude prices have declined significantly as well, dropping below $100 [per barrel]. This gives a chance for stabilization of external contracts' prices for petroleum products for Ukraine, which directly depend on the crude index," the company's press service said in reply to a request for comment from the media.

Prices for diesel fuel and gasoline at Ukrainian filling stations are 1-2 weeks behind prices on external markets, it said. Therefore, the price situation in Ukraine will be similar to the situation on external markets at the end of March, when oil prices were firmly above $100 per barrel.

"For its part, the Parallel chain kept fuel prices for its clients in check. Thanks to that, the prices at its gas stations grew at a slower pace. However, despite the positive news, prices at Ukrainian filling stations are expected to go up this week," it said.

There are sufficient fuel stocks for April, and negotiations on deliveries in May are continuing, Parallel said.

Meanwhile, gasoline prices in Ukraine remain largely unchanged compared to the beginning of the week. Diesel fuel prices have gone up by around UAH 2 per liter.