KIEV, July 4 – Lawmakers have proposed to prolong the reduction in excise duty on petrol of EUR 50 per ton and on diesel fuel by EUR 20-30 per ton until December 31, 2011.

A relevant draft law (No. 8731), authored by MP from the Regions Party Iryna Horina, was registered at the Verkhovna Rada on July 1.

According to an explanatory note, the adoption of the bill will stabilize prices for fuel in the wholesale and retail segments of the Ukrainian market of oil products, which in turn, will slow inflation, reducing the transport component in the prime cost of almost all Ukrainian goods.