Gas Prices in Ukraine Decreased by 3.9% in May

The cost of gas in Ukraine has shown a downward trend for the second consecutive month. According to the Ministry of Economy, there was a significant reduction in prices for blue fuel in May.

This is reported by AgroReview

The actual selling price of gas in Ukraine fell by 3.9% in May to 15,507 hryvnias per 1,000 cubic meters excluding VAT. However, gas is more expensive than in May of last year (12,460 hryvnias).

Impact of the European Market on Ukrainian Prices

The European gas market is also experiencing a decline in prices. Since the beginning of the year, the cost of blue fuel in Europe has decreased by 35%. Currently, prices in the European market are around 430 dollars per thousand cubic meters, which translates to approximately 17,800 hryvnias.

Challenges for the Gas Industry

Despite the positive price dynamics, Ukraine’s gas industry faces serious challenges. Due to attacks from the Russian Federation, there has been significant destruction of gas infrastructure, which has negatively impacted gas production volumes in the country. This situation creates additional risks for the stability of gas supply and may affect future price dynamics.