SOCAR explains reasons of Premium, Super gasoline price rise in Azerbaijan

Oil&Gas Materials 2 June 2021 09:59 (UTC +04:00)
SOCAR explains reasons of Premium, Super gasoline price rise in Azerbaijan

BAKU, Azerbaijan, June 2

By Leman Zeynalova – Trend:

Premium Euro-95 и Super Euro-98 are imported to Azerbaijan, therefore their price depends on the international prices, Ibrahim Ahmadov, deputy head of the public relations and events department at Azerbaijan’s state oil company SOCAR, told Trend.

He was commenting on the price rise in Premium Euro-95 и Super Euro-98 gasoline in the country.

“Premium and super gasoline are imported to Azerbaijan, while diesel and AI-92 gasoline, the primarily consumed fuel types in the country, are produced domestically. AI-92 and diesel prices are set by the state, while AI-95 and AI-98 prices depend on the producer country and their prices change depending on the prices for oil and oil products on the world markets,” he said.

Ahmadov recalled that premium gasoline prices in Azerbaijan stood at 1.50 manats before the COVID-19 pandemic and dropped to 1.10-1.20 manats during the pandemic when the oil prices fell. Then the prices recovered to 1.25 manats and now they stand at 1.40 manats, added SOCAR’s representative.

“Oil prices rise in world markets, therefore the producer countries raise the price for the mentioned gasoline types. If the price falls in world markets, Azerbaijan will see a decrease in the prices for those types of gasoline. After the modernization of the Heydar Aliyev Oil Refinery is completed in 2022, we will be able to produce some volumes of Ai-95 gasoline and as such, we will not depend on the international market situation and the international prices. But currently, this type of gasoline, which is consumed in Azerbaijan in a relatively smaller volume is imported and therefore, depends on international prices,” he concluded.


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