PJSC Ukrzaliznytsya (Ukrainian Railways) saved almost $7 million thanks to lower prices on diesel oil procurement. The acting head of the enterprise Yevhen Kravtsov announced this on his Facebook page.
“Ukrzaliznytsya is traditionally one of Ukraine’s largest consumers of diesel oil. The company buys on average around 350 thousand tons of diesel oil annually. Therefore, it is crucial for the corporation to obtain this product at the lowest price available. Currently we are purchasing diesel oil at a price that is on average 7% lower than the market price, which allows us to save money”, Kravtsov pointed out.
During the autumn and winter of last year Ukrzaliznytsya was buying diesel oil at a price between $758 and $888 per ton. However, according to the data from A-95 Consulting Group, the lowest price during this period was actually between $763 and $976 per ton.
Furthermore, since the start of 2018, Ukrzaliznytsya has already signed three separate agreements for 10 thousand tons of diesel oil each.
Kravtsov earlier announced that Ukrzaliznytsya became profitable for the first time in the recent years, reporting $3.5 million in profits for 2017. Also, the corporation’s credit portfolio has shrunk by $175 million.