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08 Jul. 2024

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Increase in fuel excise taxes in Ukraine: how much will petrol, diesel and gas rise in price?

Transport
Ukraine
Increase in fuel excise taxes in Ukraine: how much will petrol, diesel and gas rise in price?

Recently, a draft law was passed that provides for an increase in excise duty on petrol, diesel and autogas in Ukraine. Find out more about the increase and the current schedule of annual price increases

Apply for a car insurance policy at Visit Ukraine - guaranteed protection on the road in just 5 minutes!
Apply for a car insurance policy at Visit Ukraine - guaranteed protection on the road in just 5 minutes!
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The Verkhovna Rada Committee on Finance has approved for the second reading the draft law on increasing excise taxes on fuel. This was reported by MP Yaroslav Zheleznyak. We will tell you how much the excise tax increase is planned to be.

Updated fuel prices: details of the draft law


Draft Law No. 11256-2, which provides for an increase in excise duty on petrol, gas and diesel in Ukraine, will come into force on 1 September 2024. It is noted that initially, the fuel price increase was expected to start on 1 July 2024.

"Infact, the version that the Government had before the first reading was left. This is how theyreturned the increase in excise taxation on liquefied gas," said MP Yaroslav Zheleznyak.






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According to the schedule, starting from 1 July, the rate for petrol will be EUR 242.60, instead of EUR 213.5. The rate for diesel will be EUR 177.60, instead of EUR 139.6, and the rate for gas will increase from EUR 52 to EUR 165.

The draft law provides for an annual fixed increase in the price of excise duties over the next 3 years.

The authors of the draft law have calculated the amounts by which fuel prices at petrol stations will increase after the adoption of this law. Thus, petrol will rise by UAH 1.50 per litre, diesel by UAH 1.95 per litre, and autogas by UAH 5.8 per litre.

Remember. Regardless of the type of fuel, according to the law of Ukraine, every driver of a vehicle must take out compulsory car insurance. Motor third party liability insurance (MTPL) is a Ukrainian insurance policy that compensates victims of road accidents. On the Visit Ukraine portal, you can buy a car insurance policy from a licensed insurer that guarantees reliable protection in the event of an accident. We will tell you how much a motor third party liability insurance policy costs in 2024 in this article.

Just a reminder. According to recent research, prices for used cars in Europe have fallen significantly. Read here to find out how this trend may affect the car market in Ukraine.


Photo: Freepik


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