KIEV, May 4 - Ukraine's import price for natural gas from Russia has increased 12% to $295.6 per 1,000 cubic meters this quarter, the Ukrainian Economic Development and Trade Ministry told Interfax.

That was the price at the border for April.

The natural gas import price for Ukraine increased to $264 per 1,000 cubic meters in the first quarter of 2011 from $252 in the fourth quarter last year.

Per a bilateral gas agreement inked in January of 2009, the Russian gas import price is calculated by a formula that figures in price changes for fuel oil and gasoil for the previous ten months. A base price of $450 per 1,000 cubic meters was selected.