Oil price decline not linked to Trump–Putin call – expert

Oleksandr Sirenko, analyst at the consulting company NaftoRynok, stated this in a comment to Ukrinform.

“Russian outlets write that Trump called Putin and they agreed on something — either lifting sanctions or adding extra volumes of oil to the market to stabilize prices. But that doesn’t quite reflect reality,” the expert said.

Sirenko explained that the key factor behind the decline was Saudi Arabia’s decision to redirect oil exports via a land pipeline to a terminal on the Red Sea. “This was perceived by the market as positive, and prices went down,” he said, stressing that the change was driven by economic rather than political factors.

He noted that fuel prices in Ukraine are also influenced by domestic conditions, including the exchange rate and tax policy. Following the latest tranche of financial support from Western partners, the hryvnia weakened against the dollar, affecting fuel costs. Taxes currently account for UAH 22–30 per liter of fuel, and a reduction in excise duties could help stabilize prices.

Despite Ukraine’s near‑total reliance on imports, Sirenko emphasized that there is no fuel shortage. Supply exceeds demand, even as consumption rises during the agricultural season.

Wholesale diesel prices at the EU border are around UAH 80 per liter, while retail prices at Ukrainian filling stations remain lower. The highest recorded retail diesel price was UAH 79.90 per liter, reflecting earlier stock purchased at lower costs.

Transport expenses, however, are rising sharply, with delivery costs increasing from UAH 45 per 100 km ten days ago to nearly UAH 60, and possibly UAH 70 soon.

Sirenko refrained from forecasting future fuel prices but concluded: “Fuel will be available at filling stations. The price will depend on market conditions.”

As reported earlier, oil prices fell after reaching a three‑year high in the previous session, amid statements by U.S. President Donald Trump that the war in the Middle East could soon end.

In Ukraine, the average price of A‑95 gasoline on Tuesday, March 10, rose by 8 kopiikas, while diesel increased by UAH 1.32.