Gasoline and diesel fuel price went up in Azerbaijan today

By the decision of the Tariff Council from December 3, 2013 retail price of gasoline, diesel fuel and wholesale price of some oil products went up.

The statement of the Tariff Council released on Tuesday reads that retail price of 1 liter of AI-95 gasoline is 0.80 AZN (earlier 0.6 AZN), retail price of AI-92 and AI-80 gasoline is 0.70 AZN per liter (earlier 0.55 AZN).

Price of 1 liter of diesel fuel will be 0.60 AZN against previous 0.45 AZN.

By the Tariff Council decision, natural gas sold to the enterprises generating power, manufacturing aluminum and steel enterprises has gone up as well. Natural gas will be sold to the enterprises of chemical industry and metallurgy at 0.80 AZN per 1000 cub.m.

Last time oil products prices went up in the country in December 2007.

The experts believe that the current rise in oil products prices is connected with the fact that next year the state budget is forecasted to have a deficit of 2 billion AZN. Rise in oil products prices will lead to gradual increase in prices for all goods and services. This will lead to growth of tax collection and reduction of budget deficit. In addition, this year the government will most likely end with the pro-ficit budget and the remains will be also used to cover the state budget deficit for 2014.—0--