Fuel prices will rise again in Ukraine from July 1

Starting July 1, VAT on fuel will be restored to pre-war rates of 20%. This was stated by the Chairman of the Verkhovna Rada Finance Committee Danylo Hetmantsev.

“Remember the decision in early 2022 to abolish the excise tax and reduce the VAT rate to 7% on fuel. Did it lead to the market going white? No! Illegal barrels have sprouted up like mushrooms after the rain,” the MP said.

He also added that the reduction in rates had absolutely no impact on the price of fuel. 

“I believe that cutting these rates was a huge mistake. It had absolutely no effect on the price of fuel. It only affected traders’ earnings.”

In the fall of 2022, the discounts on gasoline, diesel fuel and autogas that had been canceled in the spring of 2022 were partially returned.

Author: Daria Skotchenko

Photo: pexels