DOI: https://doi.org/10.18371/fcaptp.v1i22.109952

THE MODEL OF IMPORT SUBSTITUTION ON THE UKRAINIAN MARKET OF LIGHT PETROLEUM PRODUCTS

G. О. Semiv, S. R. Semiv

Abstract


The problems, patterns and environmental factors of competition on the Ukrainian market of gasoline and diesel fuel are systemized. The peculiarities of its interaction with other markets and sectors of the national economy are studied. It was proved that the main destabilizing factors in the development of the domestic market of fuel is excessive  dependence from import aggravated with an unstable exchange rate, operations outside the legal economy, price instability and opaque pricing, reduction of oil refining and shortage of own production. Taking into account the world experience of state regulation of fuel market and the model of import substitution in the domestic market of light petroleum products, the use of the cooperative mechanisms of the gasoline and diesel fuel market are suggested. The algorithm for setting import duties on light oil products is proposed, which is based on the use of differentiated geographical approach and synchronization of the processes of modernization of domestic petroleum refineries. It is proved that this model of state support for domestic producers of light petroleum makes it possible to avoid claims of importers from WTO member countries and the EU and significantly increase revenues to the state budget to ensure rapid modernization of domestic refineries, to improve the competitive environment on the market. Priorities for balancing the interests of the state, the business environment and consumers in the domestic market of light petroleum are defined. 


Keywords


market of light petroleum products; fuel; import substitution model; cooperatives; competitive environment

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ISSN (print) 2306-4994, ISSN (on-line) 2310-8770