Ilham Aliyev cancels decision on increasing fuel prices
Baku, Azerbaijan, Jan.14
By Azad Hasanli - Trend:
Azerbaijani President Ilham Aliyev has cancelled the decision of the Tariff (price) Council on changing the prices for gasoline and diesel fuel, a message from Azerbaijani Ministry of Economy and Industry said on Jan.14.
In accordance with the order of President Ilham Aliyev, an extraordinary meeting of the Tariff Council was held on Jan.14, during which a decision on revising the prices for petroleum products was adopted.
The decision 'On regulating the tariffs for petroleum products in the country' dated Jan.12, 2015 was cancelled under the decision of the Council.
"As a result of decreasing the tariffs by 0.02 AZN in the form of road tax included in the prices for gasoline, diesel fuel and liquid gas produced in the country, the retail price for AI-92 gasoline will again be equal to 0.70 AZN per liter and diesel fuel - 0.60 AZN," according to the Council's decision.
The official exchange rate on Jan.14 is 0.7844 AZN/USD.
The wholesale price for liquid gas was reduced to 263.6 AZN per metric ton and totaled 300 AZN including the road tax, according to the decision.
The decrease in the prices will be compensated with the expenditures of the State Oil Company of Azerbaijan (SOCAR), according to the country's Ministry of Economy and Industry.
The decision will enter into force from Jan.15, 2015.
The fuel prices were increased from Jan.13 in connection with the amendments to the Tax Code.
The vehicles of foreign countries, paying road tax while entering and departure from Azerbaijan, are subject to taxation from 2015.
The gasoline, diesel fuel and liquid gas produced in Azerbaijan for domestic consumption or imported from abroad are subject to taxation as well. Accordingly, the country's car owners are exempt from road tax.
Under the previous decision of the Tariff Council, tax was added to the retail price for gasoline and diesel fuel and to the wholesale price for liquid gas produced in Azerbaijan for the domestic consumption.
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