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President Aliyev cancels decision on gasoline price

14 January 2015 14:33 (UTC+04:00)
President Aliyev cancels decision on gasoline price

By Aynur Karimova

Azerbaijani President Ilham Aliyev has cancelled the decision of the Tariff Council on changing the gasoline price.

In accordance with the instruction of the president, the Tariff Council held an extraordinary meeting on January 14, during which it was decided to revise the prices of petroleum products.

The Council decided to annul its decision on regulation of tariffs for oil products in the country adopted on January 12.

By reducing tariffs by 0.02 manat, the retail price of AI-92 gasoline will again be set at 0.70 manat per liter, and diesel fuel at 0.60 manat, while the wholesale price of liquid gas is reduced to 263.6 manats per ton.

The decision will come into force on January 15.

Earlier the Tariff Council decided to increase the retail price on gasoline and diesel fuel. The retail price on AI-92 gasoline was set at 0.72 manat per litre. Meanwhile the retail price on one litre of diesel fuel was set at 0.62 manat.

AI-92 gasoline makes up 90 percent of total consumption in Azerbaijan. The Azerbaijani Cabinet of Ministers made a decision on February 6 to change excise duty rates on oil products. Based on the decision, the excise tax rates on AI-92 gasoline decreased twice.

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Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova

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