The Cabinet of Ministers at its meeting on Thursday plans to consider setting a floating rate of excise duty on petrol, Deputy Minister of Energy and Coal Industry Volodymyr Makukha said told reporters commenting on the rice in fuel prices in Ukraine.

"We are planning to discuss at today's meeting of the government the issue of establishing a floating rate of excise duty on petrol to address the possible price increase," he said.

According to Makukha, with the establishment of floating rate the size of excise duty will depend on oil prices. "The floating rate will depend on the level of volatility of oil prices," he said.

Ukrinform