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The price of gasoline will be determined by global oil prices.
Ukrainian economist Illia Neskhodovskyi says prices of petrol in Ukraine may drop by 3%-5% in the coming weeks due to the strengthening of the hryvnia, Ukraine's national currency, to the U.S. dollar.
The expert also mentioned the fall in world oil prices among the factors affecting the petrol price, the Ukrainian online news outlet Obozrevatel wrote on August 11.
When asked how the weakening of the dollar will affect the price of petrol, the economist said: "It will happen, but this effect has a certain lag. It will not happen tomorrow or the day after tomorrow. Usually, it takes two weeks. There will be new purchases."
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"I think there will be price reduction. The question is, to what extent? We have an additional 3.75% tax on diesel fuel. This will affect the markets, but it will be adjusted to the dollar rate. Therefore, the reduction in diesel prices will be minimal. And petrol prices will be cut by about 3-5%, but no more," the expert added.
Neskhodovskyi says the price of gasoline will be determined by world oil prices. So, the slowdown in the global economy indicates that prices will not rise in the near future.