Gasoline prices rise in Azerbaijan

Source: Shutterstock – Love4aya

Price of gasoline has raised in Azerbaijan.

The price for a liter of AI-95, a premium brand gasoline, increased from 1.60 AZN to 2.00 AZN. Likewise, the super brand AI-98’s price increased from 1.90 AZN to 2.30 AZN.

SOCAR (State Oil Company of Azerbaijan Republic) informed that “Premium” and “Super” brand gasoline are brought to Azerbaijan from other countries. Therefore, the local price varies depending on the international market.

Uzeyir Habibbayli, press secretary of SOCAR Petroleum justified the raising saying that “the sharp increase in oil prices since last year, as well as the significant increase in transportation costs against the background of inflation in the world, are among the biggest factors that determine the said price change.

In 2021, Azerbaijan imported more than 50,000 tons of Premium AI-95 gasoline from abroad, representing around two-percent of local consumption. Combined with Super AI-98, they correspond to nine-percent of the national market.

The reason for the low demand for these types is the average age of cars in Azerbaijan, which are not compatible with imported gasoline. According to the last published official information, 77% of driving cars in Azerbaijan is more than 10 years. Vehicles up to five years old make up only 4% of the country’s fleet.

Ana səhifəNewsGasoline prices rise in Azerbaijan