High ecological standard gasoline to be sold in Azerbaijan at free market prices

Photo: High ecological standard gasoline to be sold in Azerbaijan at free market prices / Oil&Gas

Baku, Azerbaijan, April 2

By Emil Ismayilov - Trend:

Azerbaijan's Cabinet of Ministers has reduced the rates of customs and excise duties for the import of high ecological standard gasoline at lower prices.

This makes it possible to import Premium Euro-95 and Super Euro-98 gasoline at lower prices and selling them at free market prices, Azerbaijani Tariff (Price) Council told Trend on April 2.

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, the Tariff Council said.

At the same time the Tariff Council said it has not made any changes to the retail price of the gasoline produced domestically.

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

Under the Cabinet of Ministers decision, dated February 7, 2014, the rate of customs duty on imported AI-95 and AI-98 gasoline brands was reduced from 15 percent to one percent and the excise tax rate from $250 to $100 and $150 per ton respectively.

The council said the gasoline delivery at low prices and its free sale creates conditions for fully meeting the growing gasoline needs in the country and providing the market with fuel conforming to the highest environmental norms.

The council also added that the AI-95 and AI-98 gasoline brands account for approximately 10 percent of total consumption in Azerbaijan and it is possible to say that these brands are not used in the sectors of production and rendering services.

Translated by E.A.

Edited by C.N.

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