The world is almost out of fuel reserves. An expert warned of risks for Ukraine.
Fuel / © Associated Press
The global situation with fuel has become much more complex than in the spring. Demand has reached its peak, while reserves are minimal, creating risks for the Ukrainian market as well.
This was stated by Serhiy Kuyun, director of the consulting group “A95,” during the podcast “What’s happening with the economy?”.
Global Reserves Are Depleted — What’s Known
According to the expert, while fuel reserves were high and consumption was low in the spring, the situation has drastically changed today.
“In the spring, fuel reserves were high, and consumption was low. Today, everything is the opposite — demand is sky-high, and reserves are minimal. They were simply ‘eaten up’ in the spring… The end of this story is not yet in sight,” Kuyun said.
Risks for Ukraine and the Position of Neighbors
The expert emphasized that certain risks exist for the Ukrainian market too, recalling the crisis situation last spring.
“A very unpleasant residue remained from the spring. In the first days of March, when the price soared, the Poles immediately closed exports not only to Ukraine but in general. The Romanians also closed, and the Moldovans too. And that’s how it was. We always thought we had such a diversified system, but here everyone thinks about themselves first,” added Kuyun.
Furthermore, the expert noted that there are rumors about Poland’s intentions to reduce fuel supplies to Ukraine, and confirmed that for August, plans to decrease scheduled volumes by 20-30% are indeed being considered.
Fuel Prices — Latest News
We remind you that in 10 days, diesel at gas stations might cost 105 hryvnias per liter, and gasoline — 100 hryvnias. The main reason is the blocked maritime passages in the Middle East and the situation around Iran, which prevents Ukraine from purchasing additional fuel.
Currently, diesel in Kyiv continues to rise in price, with some chains already selling it for more than 95 UAH per liter. Despite the absence of fuel shortages, drivers are increasingly **feeling the blow to their family budgets.**
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