Azerbaijan ups gasoline, diesel fuel prices

/By AzerNews/

By Aynur Karimova

Azerbaijan’s Tariff Council has decided to increase the retail price on gasoline and diesel fuel.

According to the decision made on January 12, the retail price on AI-92 gasoline was set at 0.72 manat per litre. Meanwhile the retail price on one litre of diesel fuel was set at 0.62 manat.

So far, the cost of one litre of AI- 92 gasoline was 0.7 manat and diesel fuel at 0.6 manat.

AI-92 gasoline makes up 90 percent of total consumption in Azerbaijan. The Azerbaijani Cabinet of Ministers made a decision on February 6 to change excise duty rates on oil products.Based on the decision, the excise tax rates on AI-92 gasoline decreased twice.

Azerbaijan is currently importing AI-95 Premium gasoline from abroad. So, any fluctuation in the external market affects the cost of the product in the country.