Ukraine’s gas prices to rise 73 percent in May

Ukraine's government says gas prices to rise 73 percent as a result of new tariffs

Ukraine's government says gas prices to rise 73 percent as a result of new tariffs

KIEV, Ukraine – Ukraine’s government announced Wednesday that gas prices would rise 73 percent in May as a result of its decision to increase the country’s gas tariffs, Finance Minister Alexander Shlapak said at a news conference.

“The (new) gas tariffs will come into effect starting from May 1,” Shlapak said. “Heating prices will also increase after new tariffs are introduced from July 1,” he later said.

The ministry justified the move by saying the existing tariffs had not been revised for several years and are no longer applicable to the current economic situation in the country.

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