The Cabinet of Ministers approved a draft memorandum with oil traders

The Cabinet of Ministers of Ukraine approved the draft Memorandum of Intent on creating a favourable environment, developing fair competition on the Ukrainian petroleum product market and meeting consumer needs during the quarantine period and imposing restrictions due to COVID-19, Interfax-Ukraine reports.

The corresponding order of the Cabinet of Ministers No.270 of April 2 was published on its website.

Minister of Economy Ihor Petrashko was instructed to sign the memorandum.

The text of the document is not available.

According to Interfax-Ukraine, over the past few weeks, representatives of the authorities have been actively negotiating with large gas station chains, persistently offering them to lower prices for petroleum products that have increased in recent months. In particular, for A-95 gasoline, they are advised to set a price of UAH 30 per litre.

In turn, large chains are once again demanding to strengthen the fight against the “black” and “grey” markets and to ensure a level playing field.

To recap, the Ministry of Regional Development reports that Ukraine loses billions annually due to the activities of illegal gas stations.

As reported, the State Fiscal Service stopped the sale of counterfeit fuel for more than $1 million.

Tags: The Cabinet of Ministers, oil, legislation, agreement, petroleum products, oil deliveries, gasoline, supplier, oil market

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