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Price of gasoline AÄ°-92 increased in Azerbaijan - OFFICIAL

Price of gasoline AÄ°-92 increased in Azerbaijan - <span style="color: red;">OFFICIAL

14 July 2017 22:14 (UTC +04:00)

At the next meeting of the Tariff (Price) Council, the retail price for a liter of gasoline AÄ°-92 was reviewed upon the request of the SOCAR and relevant regulations were made.

According to the Tariff council the retail price for a liter of gasoline AÄ°-92 is set at 90 kopecks, increasing by 20 kopecks for a liter.

However, the retail price of AI-92 gasoline in Azerbaijan is lower in comparison with the most CIS and region countries after the tariffs have been changed. So, currently the retail price of one liter AI-92 gasoline is 0.86 USD in Georgia, 0.61 USD in Russia, 0.43 USD in Kazakhstan, 0.59 USD in Belarus, 0.98 USD in Ukraine.

The decision to raise prices is justified by the desire to improve the quality of produced fuel, expand investment opportunities to meet domestic demand, upgrade and refurbish the oil refining industry. It is also noted that changes in the exchange rate of the national currency led to a restriction of export opportunities and income of SOCAR.

New tariff entered into force from July 15, 2017.