Azerbaijani Economy 15 july — 10:00

Tariff Council: Why did we raise petrol prices (First official statement)

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BY INFORMATION SECTION

The Tariff Council has justified the rise in prices for petrol (gasoline) with issues of improving quality, improving the economic environment and last year's devaluation of the manat. This is stated in the message of the Tariff Council, published on its official website.

'Based on the issues of bringing the quality of petrol produced in the country to European standards, improving the environment, expanding investment opportunities to meet the growing demand for petrol in the country, the need for modernisation in the refining sector, reducing the export opportunities of SOCAR, a tariff adjustment of petrol prices for brand AI-92 has been carried out,' says the statement.

At the same time, the department notes that the prices for petrol have been revised on the basis of an application by SOCAR.

The Tariff Council also notes that despite the increase in the price of AI-92 petrol, in Azerbaijan it is still cheaper than in Georgia, the USA, Russia, Ukraine and Kazakhstan.

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