TODAY.AZ / Business

Price for AI-98 fuel drops in Azerbaijan - UPDATE

02 April 2014 [15:15] - TODAY.AZ
Azerbaijan's Tariff (Price) Council has not made any changes to the gasoline's retail price regulated domestically, according a message from the council.

Currently the AI-92 and AI-95 gasoline cost 0.7 manats and 0.8 manats respectively.

At the same time, under the Cabinet of Ministers decision dated March 31 2014, the imported AI-95 and higher brand gasoline, meeting the environmental standards of Euro-5, are not included in the list of goods regulated by the state, according to the message.

Azerbaijani Cabinet of Ministers reduced the customs duties and excise rates for importing this gasoline at lower prices.

This makes it possible to import Premium Euro-95 and Super Euro-98 gasoline at low prices and selling them at free market prices.

***
11:00

The cost of AI-98 reduced from 1.5 to 1.03 manat in gasoline filling stations in Azerbaijan, the largest operators of filling stations in the country SOCAR and Azpetrol companies told Trend on April 2.

The prices on other brands of gasoline remain unchanged.

The price of oil products in Azerbaijan are fixed and determined by the Tariff Council. The retail price of gasoline increased in Azerbaijan in line with the council's decision, dated December 3, 2013.

The retail price for a liter of AI-95 gasoline is set at 0.80 manats, and the retail price of AI-92 and AI-80 gasoline - at 0.70 manats per liter.

Prior to this, the cost of one liter of AI-95 gasoline was 0.60 manat, AI-92 and AI-80 - 0.55 manat.

The State Oil Company of Azerbaijan is the only producer of oil products and has two refineries on its balance. One of them is the Heydar Aliyev Oil Refinery that focused on the production of light petroleum products, and the second is Azneftyag Refinery that produces dark petroleum products. The total capacity of these two refineries is 16 million tons of oil per year.


/Trend/

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