KIEV, March 22 – The Ukrainian cabinet has decided not to reduce excise duties on light fuel, Deputy Energy and Coal Industry Minister Volodymyr Makukha said in Kiev.

He said that the issue was discussed at a cabinet meeting on Wednesday, although it was rejected in favor of alternative options, which would help to stabilize the prices of fuel on the domestic market.

Makukha said that one option is an increase of interventions on the market. He also confirmed that the cabinet is studying the temporary cancelation of a value added tax for imports of crude oil to Ukraine.