Ukraine Petrol Imports Rose to 190,000 Tons in February

Petrol imports in Ukraine more than doubled in February to reach 190,000 metric tons, according to data from the Kyiv-based consultancy Enkorr. This surge was primarily driven by high demand from households and small businesses using portable generators to maintain electricity during power cuts. These outages followed a series of attacks by Russia on the national energy infrastructure, which has left the country entirely dependent on imports after the destruction of domestic oil refineries.

The February figures represent a continuation of a trend established in January, when the country faced significant blackouts. In addition to petrol, diesel fuel imports also rose, totaling 457,000 tons in February compared to 395,000 tons during the same period the previous year. Supply volumes for the month were led by ORLEN SA based in Poland, followed by shipments from ELINOIL HELLENIC PETROLEUM in Greece.

Market analysts predict a slowdown in import activity for March. This expected decline is linked to a reduction in demand for small-scale power generation, scheduled maintenance at several European refineries, and broader market instability in the Gulf region. Additionally, domestic consumption may be tempered by rising costs; gasoline prices have increased by approximately 10% since the start of March, influenced by the ongoing conflict in the Middle East.

Ukrainian Prime Minister Yulia Svyrydenko addressed the market situation last week, indicating that the country possesses sufficient reserves to meet current needs and that market panic is gradually subsiding.

Ukraine currently has enough fuel to meet consumer demand, and panic on the market is gradually subsiding.