This is stated in the July "Inflation Report" of the National Bank of Ukraine for 2022.
The document notes that price growth was partially restrained by the reduction of VAT and the abolition of the excise tax on fuel, which happened in the second half of March. To ensure the fuel market supply, in May the government abolished state regulation of prices for this product.
According to the NBU, fuel prices will continue to rise next year as well. The expected gradual decline in world oil prices will likely be offset by the need to restore the pre-war fuel taxation system.
"More expensive fuel will stimulate overall inflation through indirect effects, in particular, an increase in prices for transport services, as well as for other goods and services," the National Bank explains.
As of the end of July, average retail prices for A-95 gasoline were 50.49 hryvnias per liter, diesel fuel — 55.46 hryvnias per liter, and autogas — 29.44 hryvnias per liter.
