RON-80 price on Uzbek Republican Commodity Exchange up

Oil&Gas Materials 13 May 2020 15:36 (UTC +04:00)
RON-80 price on Uzbek Republican Commodity Exchange up

BAKU, Azerbaijan, May 13

By Ilkin Seyfaddini – Trend:

Last week (May 4-10) the starting price of RON-80 gasoline at the auctions at the Uzbek Republican Commodity Exchange rose by an average of 7.4 percent - from 3.8 million soum to 4.1 million soum per ton (from $373.7 to $403.2), Trend reports with reference to UzEx.

A week earlier, the daily average price has decreased by 36 percent.

The weekly average weighted price made up 4.02 million soum per ton ($395.3), RON-91 gasoline - 5.8 million soum per ton ($570.4). According to various sources, one ton of gasoline averages 1,293-1,370 liters.

A total of 79,609 tons of RON-80 gasoline was put up for auction, 15,633 tons or 20 percent sold. Uzbekneftegaz' oil depots, petrol stations and other legal entities purchasing gasoline for their own needs took part in the bidding.

Since May 1, Uzbekistan's refineries began selling RON-80 motor gasoline and diesel fuel exclusively through exchange trading. Moreover, from May 1, 2020, the cost of imported diesel fuel at UNG (Uzbekneftegaz) filling stations was reduced to 6,500 soum (60 cents).

At the end of the exchange trading on May 1, the average weighted price of RON-80 gasoline increased by 0.1 percent against its starting price and made up 3.8 million soum ($375.1) per ton.

Since March 26, the price of imported RON-92 gasoline has been reduced from 6,200 soum to 6,000 soum (60 cents), since April 29 - to 5,500 soum (50 cents).

According to the results of 1Q2020, production of motor gasoline in Uzbekistan increased by 15.5 percent compared to the same period in 2019 to 282,700 tons, diesel fuel - decreased by 4.8 percent to 254,500 tons.

Currently, there are three large oil refineries including Bukhara, Ferghana and Altyarik with a total annual capacity of processing 11.1 million tons, operating in Uzbekistan.

In March 2020, Bukhara Refinery started production of high-quality Euro-4 and Euro-5 standard diesel fuel, with an initial capacity of 100,000 tons per year. Installation and commissioning work was carried out with online support of specialists from the French Axens company.

Earlier it was reported that oil production in Uzbekistan decreased by 6.3 percent to 698,600 tons in 2019 compared to the previous year, its import - in physical terms by 59.7 percent to 183,400 tons, costing - by 63.3 percent to $95.8 million.


Follow author on Twitter: @seyfaddini