World oil quotations surged sharply following the start of military operations by the USA and Israel in Iran. However, this does not mean an automatic jump in fuel prices in Ukraine. As reported by RBC-Ukraine.
After Tehran's statements about readiness to respond, futures for oil in London reached 73 dollars per barrel — the highest in seven months. Since the beginning of the year, the price has increased by 19% due to sanctions, production disruptions, and stockpiling by China.
Oil prices after operations in Iran: how the market reacts
The escalation of the situation may affect OPEC+ countries' decisions. During the next meeting, exporters will consider increasing production to stabilize the market instead of the previously planned moderate increase in supplies.
Sharp fluctuations on the exchange traditionally reflect on the cost of oil products in Europe and thus in Ukraine, which depends on imports.
Fuel prices in Ukraine: will there be an increase
Analyst of the consulting company "Naftomarket" Oleksandr Sirenko notes that further growth in oil quotations may lead to an increase in prices at Ukrainian gas stations.
At the same time, if global indicators decrease, theoretically the cost of fuel should decrease. However, according to the expert, networks do not always respond quickly to price drops, explaining this by selling off previously purchased stocks.
Sirenko also emphasized that it is too early to make accurate forecasts. As an example, he cited events surrounding military actions in Venezuela, where the market actually did not respond to the conflict.
"Let's see, on Monday it will be clear what is happening with the quotations based on the final reports. And based on these figures, we will purchase the next batches," the specialist noted.
It is worth noting that with the rise in fuel prices in the market the share of low-quality gasoline increases. Such conclusions were published by experts from the Institute of Consumer Expertise after checking gas station networks.