Experts warned of fuel shortages due to state regulation

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Experts warned of fuel shortages due to state regulation

18.05.2021 News

The introduction of state regulation of oil prices for gas stations will lead to an increase in illegal production and fuel shortages. Some experts and representatives of the relevant association stated this.

“The initiative of the Ministry of Economy and Agriculture of Ukraine to introduce state regulation of oil prices at gas stations will deal a devastating blow to the legal sector of the fuel market, create a powerful incentive for artisanal production and deeper penetration of tax evasion schemes,” – is stated in the article of the Consulting Group A-95.

The European Business Association also criticized the government’s decision. They noted that it contradicts the Association Agreement with the EU, as the decision on state regulation of prices eliminates the role of the market as the main regulator of market relations and will promote state intervention in economic business processes.

“The market price of fuel includes not only the average cost of petroleum products, according to the international news agency, and the marginal level of trade margin of 5-7 UAH (as stated in the project), but also the cost of transportation in Ukraine and abroad, transshipment costs , storage, certification, exchange rate changes, quality control, etc. Therefore, “manual” price regulation can destroy the pricing mechanisms used by transparent business for years and create a crisis with unpredictable supply of petroleum products to consumers, shutdown of transparent gas stations, etc. “, – noted in the EBA.

In turn, the Oil and Gas Association of Ukraine stated that the establishment of a marginal fuel surcharge would provoke a shortage of fuel and create conditions for strengthening the position of shadow gas stations.

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