Azerbaijan's premium gasoline price rises

The price of premium gasoline AI-95 has increased in Azerbaijan.

According to information available to Oxu.Az, premium gasoline AI-95 has risen in price by 0.4 manats [0.23 cents]. Thus, the new price of this product will be 2 manats [$1.1].

The reason for the increase in the cost of gasoline, previously sold at 1.6 manats per litre, was the increase in prices on world markets. Premium gasoline AI-95 is not produced in our country but imported from abroad. The increase in the import value of this product has led to an increase in the price of its sale in our country.

In general, the price of AI-95 gasoline directly depends on the cost of oil on world markets. As an example, we can cite the price reduction recorded on March 13, 2020. At that time, AI-95 gasoline fell in price in our country from 1.5 to 1.2 manats (by 20 per cent) against the background of world oil prices. But taking into account the fact that current oil prices on the world market have increased from $50 to more than $100, it becomes obvious that an increase in prices for premium gasoline AI-95 is inevitable.

In comparison to Azerbaijan, the price of AI-95 gasoline in other countries is quite high. Moreover, even after a corresponding increase in the price in Azerbaijan, the cost of AI-95 in our country compared to most states can be considered quite acceptable. For example, in neighbouring Georgia, the price of AI-95 gasoline is $1.34 (2.27 manats), and in Türkiye - $1.46 (2.48 manats).

The new price of premium gasoline AI-95 in Azerbaijan is significantly lower than in European countries. For example, in Romania, a country in South-Eastern Europe, this figure reaches $ 1.68 (2.85 manats), and in Switzerland, a state in Western Europe, it is $2.36 (4.01 manats).

The impact of the rise in the price of AI-95 gasoline on the Azerbaijani population will be minimal. In our country, the gasoline of the mentioned brand is used only by luxury cars. The share of premium gasoline AI-95 among the brands of gasoline consumed in Azerbaijan is insignificant. In our country, AI-92 fuel and diesel are mainly used.

It should also be emphasized that there have been no changes in the price of AI-92 gasoline, which is widely used in Azerbaijan. In the near future, no increase in the cost of gasoline of this brand is also expected.