In accordance with the decision of the Azerbaijani Cabinet of Ministers, the import of motor gasoline brands with octane rating of 95 and 92 respectively have been exempted from customs duty. The relevant decision was posted on the Cabinet of Ministers website on Jan.28.
The duty rate was decreased from 15 percent to zero, in accordance to the decision.
In accordance to another decision of the Cabinet of Ministers, the excise rate on import of these gasoline brands was decreased from $250 to $1 per ton.
These decisions entered into force on Jan.21 and will remain valid till June 1, 2014.
The prices of petroleum products in Azerbaijan are fixed and determined by the Tariff (Price) Council, with the decision of which the retail price of gasoline increased on Dec.3, 2013.
The retail price per a liter of AI-95 gasoline is set at 0.8 manat, and the retail price of AI-92 and AI-80 gasoline is 0.7 manat per liter.
Prior to this, the price of one liter of AI-95 gasoline was 0.6 manat, AI-92 and AI-80 - 0.55 manat.
The last change in prices for fuel in Azerbaijan was in 2007.