Azerbaijani Tariff Council changes retail prices for some goods, services (UPDATE)

Azerbaijani Tariff Council changes retail prices for some goods, services (UPDATE)

Details added: first version posted on 23:47 Jan.4

BAKU, Azerbaijan, Jan.4

Trend:

The Tariff (Price) Council of Azerbaijan held a meeting on January 4, Trend reports with reference to the press service of the сouncil.

The report said that appeals from relevant departments were considered and appropriate decisions were made at the meeting.

Thus, the State Oil Company of Azerbaijan (SOCAR) has appealed to the council with a request to increase retail prices for natural gas, RON-92 gasoline and diesel fuel in the country.

Despite the economic feasibility of the proposal to increase the price of natural gas, taking into account the social policy, the Tariff (Price) Council did not consider it expedient to increase the prices for natural gas.

SOCAR explained the proposal to increase in retail prices for RON-92 gasoline and diesel fuel by bringing the quality of these products to high European standards, improving the ecological environment, continuing work on the reconstruction and modernization of the oil refining industry. By June 2022 it’s planned to fully adapt diesel fuel, and by June 2023 - RON-92 gasoline to the Euro-5 standard.

At the meeting, the retail price of RON-92 gasoline was set at 1 manat (59 cents) per liter, and the retail price for diesel fuel was set at 0.8 manat (47 cents) per liter. Considering the environmental damage caused by the use of diesel fuel, the price difference has been reduced in order to promote gasoline consumption.

The last adjustment of prices for diesel fuel was made on 02.12.2013, and for RON-92 gasoline - on 14.07.2017.

According to the council, since RON-92 gasoline is mainly used in personal cars, it won’t cause a notable growth in prices for consumer goods, and will also stimulate the use of public transport and the transition to fuel-efficient cars. As a result of the price regulation, additional revenues to the state budget are predicted, which will be directed to socially oriented activities in accordance with the social policy of a systemic and sustainable nature carried out in the country.

In order to neutralize the impact of the rise in prices for diesel fuel on passenger transportation entities, they will be issued compensation, and the respective mechanism will be announced by the end of January, 2021. This is an important step taken to prevent changes in tariffs in public transport, which are increasingly used by citizens in their daily life and which serves the interests of the population, especially its socially vulnerable part.

Control measures will be taken to prevent abuse of the tariff regulation, unjustified price increases.

At the same time, given the impact of the growth in prices for diesel fuel on the agricultural sector, the amount of the government-allocated subsidies will also be revised.

By the resolution of the Azerbaijani Cabinet of Ministers, prices for other oil products were liberalized (save of RON-92 gasoline, diesel fuel and bitumen).

At the meeting of the Tariff (Price) Council, tariffs in other areas were also revised. So, there was discussed the appeal of the State Service for Property Issues under the Ministry of Economy to conduct a technical inventory of real estate, include information about property in the register and consider tariffs for related services.

Given that the tariffs for these services were approved in 2009 and additional funds received as a result of tariff changes will be used to purchase equipment for the provision of high-quality, prompt and reliable services, further improve the social status of workers, expand the use of information technologies, the new tariffs were approved.

The new rates will apply starting from January 5, 2021.

During the meeting the council has also approved prices for about 300 medicines that have passed state registration. A complete list of 12,392 medicines, trade name, pharmaceutical form, name of active ingredient, dosage, commercial packaging, quantity per package, wholesale and retail prices at the moment, taking into account the country of origin and the date of entry into force of which have already been approved, is available on the official website of the Tariff (Price) Council, in the ‘Medicines’ section.

At the same time, given that the relevant Decree of the Cabinet of Ministers approved the fee for phytosanitary measures and state phytosanitary services, the council’s resolution No. 4 dated 01.08.2014 was canceled.

All decisions adopted by the council can be found in the ‘Council Resolutions’ section on the above official website.

(1 USD = 1.7 AZN on Jan.4)

Azerbaijan greatly increases export of tomatoes to Kazakhstan
Azerbaijan greatly increases export of tomatoes to Kazakhstan
Azerbaijani banks buy more foreign currency at CBA's auction
Azerbaijani banks buy more foreign currency at CBA's auction
Azerbaijan's AzeriCard and Visa developing new mobile platform
Azerbaijan's AzeriCard and Visa developing new mobile platform
Loading Bars
Latest
Iran reveals COVID-19 data for January 28
Azerbaijan greatly increases export of tomatoes to Kazakhstan
Kazakhstan's KAZ Minerals reports 2020 operations results above guidance range
Uzbekistan reveals budget allocated for healthcare sector in 2021
Uzbekistan working to improve quality of drinking water supply services in Tashkent
Turkmen Maritime and River Transportation Agency exceeds working plan for transportation
Azerbaijani banks accelerate the digitalization of payments, services in 2020 (Interview)
Azerbaijani Central Bank talks countrywide development of financial technologies
Iran's Bahar Azadi gold coin price continues to rise
Georgian "Kakhetian Traditional Winery" to start construction of eco-village
Kazakhstan's civil aviation authorities introducing 'e-Freight' system
Azerbaijani banks buy more foreign currency at CBA's auction
Russia allows imports of peppers tomatoes from one more Kazakh venture
Kazakh Parliament ratifies free trade agreement between EAEU, Serbia
Iran declares its revenues from tea exports
Azerbaijan's AzeriCard and Visa developing new mobile platform
UK will review quarantine country list on Thursday
Iran's CBI reveals amount of loans issued in Iran's housing and construction sector
Iran's NIOC holding discussions with foreign company regarding Susangerd field
Azerbaijan may open trading houses in Japan and Pakistan
New enterprises put into operation in Iran's industrial parks
Iran's exports from Kerman Province increases
Vaccine diplomacy: India gets request from all across the world; partnering in phased manner
Georgia reduces importing of pyrotechnics
Number of hotel rooms commissioned in Uzbekistan increase despite COVID-19
Romania decreases petroleum oils import from Kazakhstan amid COVID-19
Precious metal prices decrease in Azerbaijan
Azerbaijani president views conditions created at reconstructed schools in Sabunchu, Surakhani (PHOTO)
Turkish TAV Airports holding eyes modernizing airports in Uzbekistan
Realization of SGC - successful result of years of work - Ambassador Cekuta
Uzbekistan to start preparation for mass vaccination against COVID-19
Georgia reports 723 new cases of coronavirus for Jan.28
London Court of International Arbitration issue second arbitral award in favor of SOCAR
SOCAR’s LNG cargo scheduled to arrive to Pakistan as contracted
Azerbaijani wine products to be presented at int'l exhibition in China
Iran plans to export oil from Gulf of Oman
Amount of loans issued to Iran's industrial and mining sectors announced
India’s gift of 5 lakh doses of Covishield vaccines reaches Sri Lanka
Rector Elmar Gasimov holds online meeting with Presidential Scholars (PHOTO)
Azerbaijani currency rates for Jan.28
Non-cash transactions exceed cash turnover for first time in Azerbaijan - ABA's president
Azerbaijan nearly doubles seafood exports
Uzbekistan to increase tax on production and sale of oil products
Growth of imports of dairy products in 2020 continues in Georgia
Turkmenistan ready to start practical steps to create logistics center in Russia’s Astrakhan
Russia’s Tatneft in Turkmenistan opens tender for bulldozer services
Azerbaijani oil prices continue to grow
Kazakhstan, Switzerland see trade volume decrease amid COVID-19
Turkmenistan's Turkmenhimiya opens tender for purchase of urea-formaldehyde concentrate
Azerbaijan reveals data on population's bank deposits countrywide
Indo-Israel Chambers of Commerce eyes Israel, India, UAE business opportunities
Uzbekistan to launch number of plants for natural facing stones production
Cafes, restaurants in Azerbaijan to work on weekends
Kazakhstan eyes measures for livestock breeding market dev't within EAEU
Burj Khalifa lights up with tricolour to celebrate India's 72nd Republic Day
IMF projects Indian economy to be fastest-growing next financial year
Kazakhstan’s subsidiary bank operating in Uzbekistan increases its total assets
Nepal begins nationwide inoculation drive against COVID-19
Telephonic Conversation between National Security Adviser and Mr. Jake Sullivan, National Security Advisor of U.S.A
Toyota beats Volkswagen to become World's No.1 car seller in 2020
Azerbaijan's electronic government portal registers more users in 2020
Turkmen company exceeds salt extraction plan
Final results of market test to double TAP’s capacity due in October
Iranian currency rates for January 28
Azerbaijan's Parliament to approve new document on visas between Azerbaijan and Turkey
TAP will also be able to transport hydrogen in future – managing director
Deposits value denominated in national currency surges in Kazakhstan
Russian Aeroflot announces cancelation of regular flights to Azerbaijan
Azerbaijan extends date of implementing amendment on new construction requirement
Azerbaijan releases footage of Kalbajar's Alybayli village (PHOTO/VIDEO)
Uzbekistan reveals COVID-19 data for January 28
No virus detected in Azerbaijan's tomatoes export in 2020 - Food Safety Agency
2021 total liquids demand to be higher than 2020 annual level
Kazakhstan boosts imports from Portugal despite COVID-19
Azerbaijani-Uzbek trade turnover grows in 2020 despite pandemic
Turkmen company exceeds salt extraction plan
Kazakhstan's coal extracting venture to opens buy to buy spares
Oil falls on demand fears, strengthening dollar
Subsidiary of KazMunayGas to buy electrodes via tender
OPEC+ compliance could wane with oil demand recovery
Land plots in Baku drop in price
Russian Gazprombank talks factors for revising S&P rating on Azerbaijan to 'positive'
Germany will continue its close regional cooperation with Azerbaijan - Federal Foreign Office
Germany intends to increase co-op with Azerbaijan in renewable energy - Federal Foreign Office
Apple says new privacy notifications to roll out in 'early spring'
Iran seeks to eliminate USD in trade with Eurasian Economic Union
New carpet factory to open in Azerbaijan
NASA's Perseverance rover to land on Mars next month
Iran ready to help Kenya on knowledge-based companies
Georgian border police receives troop carriers, fuel trucks, off-road vehicles from US
Kyrgyz citizens legally working in Turkey to be able to receive pensions and benefits there
1,413 new COVID-19 cases recorded in Kazakhstan in 24 hrs
Saudi flagship investment forum calls for excellent credit solutions to global debt problems
Italy decreases import of petroleum oils from Kazakhstan amid COVID-19
EU demands AstraZeneca plan to break vaccine deadlock
Tesla profit, foggy outlook on 2021 deliveries disappoint Wall Street
Inflation converges to targeted value at end of 2020 in Georgia
Chile approves emergency use of Oxford-AstraZeneca COVID-19 vaccine
UK PM Johnson heads to Scotland amid fears of break up of UK
Europe lifts safety ban on Boeing 737 MAX jet
All news