Antimonopoly Committee Finds No Collusion in Fuel Market

The Antimonopoly Committee of Ukraine (AMCU) has concluded that there is no evidence of collusion among fuel market participants that could have resulted in increased gas station prices. This statement was made by AMCU head Pavlo Kyrylenko during his address to the Verkhovna Rada, where he noted that based on the data collected and analyzed so far, no signs of collusion have been identified.

Kyrylenko emphasized that the oil products market in Ukraine is unregulated, and pricing is determined by market conditions. He stated, "The market shares of participants completely exclude the possibility of monopolization," highlighting that investigations into violations of competition legislation cannot be used as a tool for market regulation.

Furthermore, the AMCU head remarked that due to measures taken by the government, Ukraine has managed to avoid a fuel shortage. According to him, the increase in gas station prices is a result of rising demand, reduced supply, increased logistics costs, as well as forecasts for further growth in the cost of oil products and the weakening of the hryvnia.

It is important to note that on February 28, 2026, Israel and the United States announced attacks on Iran, operations dubbed "Lion's Roar" (Israel) and "Epic Fury" (USA). These events significantly impacted global oil markets, which in turn affected fuel prices in Ukraine.

On March 2, oil prices surged sharply, marking the largest increase in the last four years, but later decreased as traders began to assess the actual consequences of the closure of the Strait of Hormuz, which occurred due to the conflict between the US and Israel. This led to an approximate 5% increase in fuel prices in Ukraine, which relies on imports, due to news of supply issues from Gulf countries.

As of March 4, 2026, Ukraine experienced a rapid rise in fuel prices due to panic buying. In response, the head of the tax committee of the Verkhovna Rada, Danilo Hetmantsev, urged fuel market participants to limit price increases to avoid the need to approach the AMCU.

On March 5, 2026, the AMCU demanded explanations from market participants regarding the increase in prices at gas stations. Subsequently, on April 8, 2026, Prime Minister Yulia Svyrydenko discussed the situation in global oil markets with the leadership of Naftogaz of Ukraine and expressed hope for a decrease in gas station prices in the near future.