SOCAR Energy Ukraine: SOCAR’s customers remain unaffected by rise in gas price

Baku. 26 October. REPORT.AZ/ In the autumn of 2018, prices of automobile gas have significantly increased due to various factors, Chief of the LPG  Department at SOCAR Energy Ukraine, SOCARıs subsidiary in Ukraine Victor Marchenko told Report.

According to him, this was firstly caused by the rise in global oil prices and depreciation of Hryvna against EUR and USD, long-term suspension of re-export of Russia’s LPG through Belarus, as well as several domestic problems in connection with railway transportation of  resources.

Marchenko noted that wholesale dynamics and general tension in the market lead to operative response to retail segment: "Currently, the prices of large operators reached a record level. There is no reason for decline in wholesale prices in the short run. Thanks to decrease in seasonal demand, an increase and stabilization is possible from November. In case of stable exchange rates of national currency and absence of other unforeseen circumstances, LPG price is expected to go down by the end of this year. However, we are not going to make long-term forecasts related to the prices. Because there are too many factors affecting the prices."

The SOCAR official noted that the current situation does not have serious impact on SOCAR’s customers: "Only 34 operating stations have been equipped by gas modules. Light oil products, diesel and A-95 gasolines prevail in the general sale of the network. During the nine months of 2018, LPG sale slightly increased at SOCAR’s filling stations."