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Growing RON-92 gasoline, diesel prices to raise Azerbaijan's fuel market turnover - expert

Oil&Gas Materials 5 January 2021 13:42 (UTC +04:00)
Growing RON-92 gasoline, diesel prices to raise Azerbaijan's fuel market turnover - expert

BAKU, Azerbaijan, Jan.5

By Fidan Babayeva – Trend:

The growth in prices for RON-92 gasoline and diesel fuel in Azerbaijan may increase the turnover of the country's fuel market by 300 million manat ($176.4 million) until the end of 2021, Director of the Caspian Barrel Oil Research Center Ilham Shaban told Trend on Jan.5.

According to Shaban, the growth in retail prices for the above products was justified by bringing the quality of these products to high European standards, the impact on improving the ecological environment, continuing work on the reconstruction and modernization of the oil refining industry.

Speaking about the reduction of the environmental impact from the use of diesel fuel, he noted that it’s necessary to introduce additional taxes on vehicles using diesel fuel.

Over the past few years, the number of vehicles using diesel fuel has sharply increased around the world, including threefold in Azerbaijan, reminded the expert.

By the resolution of Azerbaijan’s Tariff Council, the retail price of RON-92 gasoline was set at 1 manat ($0.59) per liter, and the retail price for diesel fuel - at 0.8 manat ($0.47 cents) per liter.

(1 USD = 1.7 manat on Jan.5)

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Follow the author on Twitter: @Fidan_Babaeva

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