TODAY.AZ / Business

Price for fuel oil decreased

24 November 2015 [17:15] - TODAY.AZ

/By AzerNews/

By Vusala Abbasova

Azerbaijan’s Tariff Council made a decision to cut the wholesale price for fuel oil by three times in the country.

The price for one ton of furnace oil has been reduced from 300 Azerbaijani manats (over $285) to 100 manats (over $95). The decision will enter into force from December 1, 2015.

The Azerbaijani government doesn't regulate the retail price for furnace oil.

Fuel oil is a fossil fuel derived from oil refining.

Aside from domestic fuel which is used in transportation and household heating, heavy fuel oil also called HFO is used to meet the needs of electricity production, manufacturing and ship engines.

In the energy sector heavy fuel oil is used to fire electrical power stations.

HFO is used as a fuel for lighting up gas-fired power stations, as a "back-up" to adjust electricity production during peak times, as HFO offers availability and quick start-up, main fuel in some power stations.

URL: http://www.today.az/news/business/145429.html

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