Sun. Jun 23rd, 2024

It can be as expensive as in Europe: an expert on the possible increase in the price of gasoline

Natasha Kumar By Natasha Kumar May22,2024

>> on gasoline may increase/freepik

The government proposes to increase the tax on fuel in Ukraine. And this can lead to an increase in fuel prices, similar to those observed in Europe. The increase in excise duty will be carried out in stages, starting from July this year.

Prime company founder Dmytro Lyovushkin emphasizes that this step fulfills the recommendation of the European Union to bring Ukraine's legislation closer to EU standards in the field of taxation. He told about this in a comment to “Suspilno”.

How much can gasoline cost

This recommendation could be postponed, but it turned out to be very timely, because it is necessary somehow fill the budget Therefore, the government, without hesitation, decided to increase the excise tax on fuel,
– the expert emphasized.

According to Lyovushkin, when Ukraine fully implements the EU recommendations, fuel prices may rise to a level similar to the European level. , which will be about 75-80 hryvnias per liter. .png” alt=”It can cost like in Europe: an expert on the possible increase in the price of gasoline” />

A liter of gasoline can cost up to 80 hryvnias/Freepik photo

However, there are opinions that an increase in excise duty may lead to a number of negative consequences, such as market imbalance, reduced production and dependence on imports. Also, some experts point out that this decision was made on the basis of outdated EU recommendations, which are not implemented even in the union itself.

It is worth noting that the Cabinet of Ministers of Ukraine has developed a draft law that provides for a gradual increase in excise taxes. for fuel from July 1, 2024. The first promotion should take place already this summer.

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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