9 Feb 2023 11:33

No need to tighten administrative measures on Ukraine's petroleum product market - deputy minister

MOSCOW. Feb 9 (Interfax) - The petroleum product market itself has covered the additional demand sparked in recent months by the sharp increase in the number of gasoline and diesel generators in Ukraine, hence there is no need to tighten administrative measures, Ukrainian First Deputy Economy Minister Denis Kudin said.

"We have been pushing the market to keep importing more. And the fact that the price has started to decline has purely economic reasons - as imports increase, the price goes down," Kudin said in an interview with Ukrainian media.

When commenting on the Ukrainian Anti-Monopoly Committee's proposal to reinstate state control over the turnover of light petroleum products, such as high-octane gasoline and diesel fuel, the deputy minister said that the situation on the market does not require such measures today.

At the same time, Kudin called on the Anti-Monopoly Committee to ensure constant oversight and control over market subjects that are regulated by a rival agency.

As reported, the Anti-Monopoly Committee said in late November 2022 that it was impossible to assess the main indicators of Ukraine's fuel market because of deregulation and some market players' refusal to report their operations. It warned of the risk of again encountering a deficit similar to what it was in April-May 2022 and asked the government to reinstate state control over the turnover of light petroleum products.