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'I don’t remember prices rising this fast' — Soaring oil prices strain Ukraine’s war economy
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'I don’t remember prices rising this fast' — Soaring oil prices strain Ukraine’s war economy

by Luca Léry Moffat

The Iran war is hitting Ukrainians at the pump, as rising global energy prices ripple through the war-battered economy that is only just emerging from an energy crisis and significant bout of inflation. Diesel prices hit $1.64 a liter on March 9, according to Ukrainian fuel market analyst group A-95 Consulting, a 16% climb compared with one month prior. Petrol prices rose by 12% in the same period. "I’ve been working in this market for 25 years, and I don’t remember prices rising this fast," S

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KSE ProfTech students attend welding training classes at the KSE ProfTech facility in Kyiv, Ukraine, on Feb. 25, 2026.

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The Kyiv Independent’s Business Desk covers the biggest news in business, economics, and tech from Ukraine, as well as global developments that shape the economy of the region.

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