The Ukrainian premier noted that virtually all Ukrainian oil traders joined this memorandum which also bears the signatures of some Russian companies, including TNK-BP.
The government will develop relations with Russian oil companies controlling up to 87 percent of the Ukrainian market of oil products on the grounds which will enable these companies to work profitably, said Timoshenko.
She reported about her tomorrow's meeting with Lukoil executives.
"I think that it will take our government not more than a week to bring prices for oil products in the Ukrainian market to normal," added Timoshenko. She disproved allegations that the prices on oil products established by economic ministry directives are non-market. "They certainly ensure profit-making," she said.
Light oil products and Diesel fuel in Ukraine have increased in price by an average of 3%-10% since the beginning of April, 2005.
Ukrainian oil traders and refineries are now selling gasoline A-95 for the price of $0.63 per liter while Russian companies are doing this for $0.70
The memorandum provides for selling gasoline A-95 for the price of no more than $0.63 per liter and Diesel fuel for the price of no more than $0.54 per liter.
