Last night in Azerbaijan the price of gasoline Premium Euro-95 rose by 10%, from 95 gapik to 1.05 manats per 1 liter.
At 12 o'clock in the morning all gas stations had to change the prices, which caused a stir of drivers, who decided that all brands of gasoline went up.
There is no official information about the price increase and it is not clear which agency made the decision. According to experts, gasoline Premium Euro-95 is imported, so the price depends on the exchange rate. Given that the manat has depreciated more than twofold, the price of imported fuel is also expected to increase. However, it is not clear why Azerbaijan that produces all kinds of oil products is unable to produce gasoline Premium. -02D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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