Baku, Azerbaijan, August 1
By Fakhri Vakilov-Trend:
The price of RON-91 fuel will no longer be fixed; as of now it is 4,500 soums per liter, Trend reports with reference to Uzbekneftegaz.
From August 15, the price of RON-91 fuel will be determined through exchange trading. This is stipulated by the resolution of the Cabinet of Ministers of Uzbekistan dated July 30 "On the change in prices and tariffs for fuel and energy resources."
“The gas stations selling the RON-91 fuel will now buy it at the exchange trades and set the prices based on their costs. Previously, the fuel was sold under direct contracts and at prices set by the government,”Uzbekneftegaz reported.
Currently, tank farms sell RON-91 fuel to filling stations for 3,793.5 soums per liter. Now the price will not be adjustable.
“The price will be set freely in exchange trading, based on market conditions, supply and demand. Previously, a consumption tax (now excise tax) of 285 soums was deducted from 4,500 soums, then another 10 percent was deducted from the remaining sum. Afterwards, there is a “gas station discount” - the amount that is given to gas stations for the provision of services. That is, Uzneftproduct gives a 10 percent discount minus consumption tax. The result is the amount of 3,793.5 soums,” the company explained.
"Uzbekneftegaz" believes that the free price should spur competition among gas stations.
Gasoline (RON-80, RON-91, RON-92 and RON-95) and diesel fuel in Uzbekistan are produced at the Fergana and Bukhara refineries.
($1= 8696.41 soums on August 1)
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