Ceasefire in Iran Offers Chance for Fuel Price Stabilization in Ukraine – Parallel

The ceasefire in Iran, which has been facilitated by the international community, may become a significant factor in stabilizing fuel prices in Ukraine. However, as experts from the Parallel network of gas stations note, fuel prices in Ukraine are expected to align with the global market indicators observed at the end of March for the foreseeable future.

According to information obtained from the Parallel press service, following the announcement of a potential two-week cessation of hostilities and the resumption of tanker passage through the Strait of Hormuz, Brent crude oil prices dropped from $110 per barrel on April 7 to $95 per barrel on April 8. Additionally, WTI and Urals crude oils also saw significant price reductions, falling below $100 per barrel. Representatives from the company stated that this creates opportunities for stabilizing the prices of external contracts for petroleum products in Ukraine, which are directly influenced by the raw material index.

Experts at Parallel emphasized that the prices of diesel fuel and gasoline at Ukrainian gas stations typically lag behind external quotations by about one to two weeks. Therefore, in the near future, the situation regarding fuel prices in Ukraine will reflect the trends observed in global markets at the end of March, when oil prices consistently remained above $100 per barrel.

Furthermore, Parallel indicated that they have been working to curb the pace of fuel price increases for their customers. This effort has helped to slow the rate of price growth at gas stations. However, despite the positive news, a price correction upwards is expected at Ukrainian gas stations this week.

As part of its operations, the network also highlighted its focus on ensuring resource availability for April, while negotiations for supplies in May are ongoing. This indicates that the company is actively working to maintain fuel supply stability in Ukraine despite external challenges.

As of 9:00 AM on April 8, gasoline prices remained largely unchanged compared to the beginning of the week, while diesel prices increased by approximately 2 hryvnias per liter. This suggests that the market is responding to changes in the external environment, but has not yet demonstrated sharp fluctuations.

It has been reported that oil prices fell by more than 10% on Wednesday morning amid news of a temporary halt to U.S. strikes against Iran. U.S. President Donald Trump announced a two-week suspension of strikes on Iran in exchange for the full and immediate opening of the Strait of Hormuz. He emphasized that this would be a bilateral ceasefire aimed at reducing regional tensions.

The Iranian Supreme National Security Council confirmed its agreement to the ceasefire with the United States. The Foreign Minister of the Islamic Republic, Abbas Araghchi, reported this, stating that safe passage through the Strait of Hormuz would be possible in coordination with the Iranian Armed Forces and considering technical limitations over the next two weeks. This opens new possibilities for international trade and oil supply, which, in turn, could impact global fuel prices.

Thus, the situation in Iran and its influence on global oil markets could become determining factors for stabilizing fuel prices in Ukraine. As events unfold, Ukrainian consumers may hope for positive changes in fuel pricing policies.