The price of natural gas delivered by Gazprom to Ukraine will rise 2.4%, to $426 per 1 000 cu m, beginning from the second quarter, said a source at the Ukrainian fuel and energy company Naftogaz.

The gas price for Ukraine is determined on a quarterly basis and depends on quotations of oil and petroleum products. According to earlier reports, Ukraine bought Russian gas at $416 in the first quarter. Naftogaz’s preliminary estimates were $418 for the second and third quarters and $413 for the fourth quarter of 2012.