Speaking on Radio NV, Volodymyr Omelchenko, Director of Energy Programmes at Olexander Razumkov Centre for Economic and Political Studies, shows how the current conflicts in the Middle East — in particular, escalation involving Iran, Israel, and Kurdish groups — affect the global oil market, creating speculative risks and whipping up fuel prices. He explains why gasoline prices are rising in Ukraine not because of a real shortage, but due to manipulations by major market players that use hot news as a pretext to raise prices. Omelchenko also uncovers the political aspects of the Druzhba oil pipeline operation, its role in financing Russian aggression and possible alternatives for Europe, in particular, for Hungary and Slovakia. Monopolization of the Ukrainian fuel market and the need step up the Antimonopoly Committee oversight was also discussed.
Energy Security amidst Geopolitical Challenges: How Conflicts in the Middle East Affect Fuel Prices in Ukraine
Volodymyr Omelchenko
Director, Energy Programmes
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