Ukraine sees 12-fold rise in fuel imports from March to Aug - first deputy PM

MOSCOW. Sept 2 (Interfax) - Imports of gasoline and other fuels to Ukraine rose 12-fold from just under 60,000 tonnes in March to 710,000 tonnes in August, Ukrainian media said, citing Ukrainian First Deputy Prime Minister and Economy Minister Yulia Svyrydenko.

"Whereas in March we imported 827 tonnes of gasoline and 1,400 tonnes of diesel fuel, these figures in August stood at 4,200 tonnes and 16,900 tonnes, respectively. We see that reserves of petroleum products are gradually accumulating on the market thanks to the continuous growth of imports. Therefore, there is no panic buying of gasoline today. There are no queues at filling stations, and prices are not demonstrating any tendency toward rapid growth," the Economy Ministry quoted Svyrydenko as saying in its statement.

Ukraine imported 58,800 tonnes of gasoline, diesel fuel and liquefied gas in March, 380,800 tonnes in May, and 709,500 tonnes in August, ministry said.

The rise in these imports was partly aided by the abolition of the excise duty on petroleum products, the reduction of value-added tax from 20% to 7%, the suspension of gasoline price regulation, and a series of other measures aimed at simplifying gasoline import to Ukraine, Svyrydenko said.