Zelensky signed the law on fuel excise taxes: when and how much will gasoline, diesel and gas rise in price?
On September 1, the President of Ukraine signed a draft law that provides for an increase in excise duty on gasoline, diesel and autogas. Learn more about the price increase and the current schedule of annual price increases
In July, the Verkhovna Rada Committee on Finance approved the draft law on fuel excise tax increase for the second reading. And on September 1, 2024, Volodymyr Zelenskyy signed the relevant law on increasing the excise tax on fuel. This is evidenced by the card of the draft law No. 11 256-2 on the website of the Verkhovna Rada. We will tell you when and how much the excise tax increase is planned in the article below.
Updated prices for gasoline, diesel, and gas: when and how much will fuel rise?
Draft Law No. 11,256-2, which is expected to increase the excise tax on gasoline, gas and diesel in Ukraine, came into force on September 1, 2024. The explanatory note states that the draft law was registered to harmonize national legislation with EU standards.
Therefore, this month, excise rates for gasoline will increase from €213.5 to €242.6 per 1,000 liters, for diesel fuel from €139.5 to €177.6, and for autogas from €52 to €148.
These rates will remain in effect until December 31, 2024, with a gradual increase in fuel excise taxes thereafter.
At the final stage (in accordance with Directive 2003/96/EC), the following fuel prices are to be set in Ukraine
➤ gasoline - 359 euros per 1000 liters
➤ diesel fuel - 330 euros per 1000 liters
➤ liquefied gas - EUR 70 per 1000 liters.
Thus, the draft law provides for an annual fixed increase in the price of excise duties over the next 4 years - until 2028.
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The authors of the draft law have calculated the amount by which fuel prices at gas stations will increase after the adoption of this law. Thus, gasoline will rise by UAH 1.50 per liter, diesel by UAH 1.95 per liter, and autogas by UAH 5.8 per liter. It is noted that the state budget will receive UAH 1,604.72 million per month in the second half of 2024.
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.
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