TASHKENT, Uzbekistan, January 16. Gasoline prices in Uzbekistan rose by an average of 19 percent last year despite efforts to keep fuel prices from rising, President Shavkat Mirziyoyev said, Trend reports.
He spoke at a meeting on priorities for economic development in 2024.
Mirziyoyev said that he instructed officials to ensure sufficient gasoline stocks at the beginning of last year. In addition, a zero excise tax rate was set for RON-80 gasoline to prevent price increases.
Despite this, gasoline prices have risen an average of 19 percent over the past year. This means that transportation, production and export prices have risen.
"It needs to be repeated. Inflation is a tax for people and businesses. If we do not curb it, there will be neither poverty reduction nor economic growth," Mirziyoyev said.
Uzbekistan established a zero excise tax rate for RON-80 gasoline in December 2022, which allowed to form the price of gasoline of this brand at the level of 6,050 soums ($0.49) per liter.
The zero rate expired at the end of 2023. In addition, excise tax rates for RON-80 gasoline, diesel fuel and motor oils will increase from April 1, 2024.