By Azernews

By Ayya Lmahamad

The cost of Euro-95 gasoline has increased in Azerbaijan, Azernews reports, citing Trend.

The price for premium gasoline increased from AZN1.6 to AZN2. The price of gasoline in the country rose as a result of a price hike on the world market, as Azerbaijan imports this type of gasoline, the report explains.

Although oil prices in the world market have increased by around 65 percent since September 2021, the price of Euro-95 gasoline in Azerbaijan has remained stable. For comparison, the price of this gasoline in Turkey increased by 3.2 times since September 2021 and by 93.2 percent since the beginning of 2022.

The price of RON-92 gasoline in the country is regulated by the Tariff Council, while the prices of other brands of gasoline depend on their market value. An increase in the price of RON-95 gasoline won’t affect the prices of goods in the country due to the use of diesel and RON-92 gasoline by the local carriers. Public transport, cargo carriers, private cars, and cars of various services are refuelled with local gasoline, while RON-95 is used by high-class cars, the number of which is very low in Azerbaijan.

Additionally, next year is it planned to start production of EURO-5 gasoline in Azerbaijan. 2 million tons of RON-92 and RON-95 gasoline per year are planned to be produced at Heydar Aliyev Baku Oil Refinery.