Ukrainian Fuel and Energy Minister promises stability

18:25, 13 November 2006
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Of prices for oil products

Prices for oil products will be stable in Ukraine for the near four to six months, Ukrainian Fuel and Energy Minister Yuriy Boiko said, by way of speaking at a conference into outcomes of the Govt`s 100 days, according to Ukrinform.

As he stressed this forecast was based on OPEC countries` intention, aired in Qatar, to fix the price at 58 USD per barrel.

According to Boiko, in spring 2007 he expects insignificant (up to 10 percent) price rise for oil products, which he referred to as "seasonal and such which Ukraine is able to cope with on its own, at the expense of internal reserves".

Over the past month the gasoline price dropped by 5 to 15 percent in Ukraine. Following the Govt`s optimistic forecast, the fuel prices will keep on dropping.

In mid July gasoline price at Ukrainian gas stations reached 5 UAH per one liter (one USD=5.05 UAH).

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