The cost of a liter of diesel fuel at retail may grow on the hryvnia.
Unification of rates of excise duty on diesel fuel at €125 per 1000 litres, which is proposed by the Ministry of Finance of Ukraine, will increase the cost of diesel to consumers on 1 UAH/l. this is stated in the message of “Consulting group A-95”.
The Ministry of Finance proposes to unify the rate of excise duty on diesel fuel, which was previously applied to the fuel quality to Euro-3 (sulfur content over 50 ppm). At the same time on the fuel of Euro-4 and Euro-5 (sulfur less than 50 ppm) valid rate €95/1000 L.
“The use of diesel fuel standard Euro-3 in the domestic market is prohibited in the Technical regulations from 1 January 2016, the unification of rates of excise duty allegedly at the current level of €125 per 1000 l is a veiled tax increase. With the current Euro rate it will lead to an increase in the cost of fuel for 1 UAH/liter,” – said the Director of “Consulting group A-95” Sergey Kuiun.
According to him, this is very delayed measure given the continuing decline of the economy of Ukraine and reduce the solvency of consumers.
“Diesel fuel is mainly used by the industrial sector, which is the rising cost of fuel in a crisis will be a painful blow. The increased excise tax as significantly reduce the efficiency of private cars with diesel engines that are gaining popularity in our country,” – says Kuiun.
“Consulting group A-95” I consider it necessary to unify the tax rate at the existing level of €95 /1000 l applied to the fuel quality Euro-4 and Euro-5. According to experts, today, all manufactured and imported into Ukraine diesel fuel meets these standards.
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