Prices for AI-92 gasoline and diesel fuel have been increased in Azerbaijan
Starting from July 1, 2024, the retail price of Ai-92 gasoline has been increased by 10 gapiks to 1.10 manats per liter, the Tariff (Price) Council of Azerbaijan announced.
According to the Tariff Council, the retail price of diesel fuel has also been increased in the country by 20 gapiks to 1 manat per liter.
The Tariff Council believes that prices for fuel produced according to the Euro-5 environmental standard have been regulated in Azerbaijan. “The increase in the cost of diesel fuel and gasoline Ai-92, produced in our country in full compliance with the Euro-5 standard, necessitates an increase in prices for these products,” the statement of the Tariff Council.
The Tariff Council notes that in this regard, based on a request from the State Oil Company of the Republic of Azerbaijan (SOCAR) at a meeting of the Tariff Council held on June 29, the price of gasoline and diesel fuel Ai-92 was adjusted.
Energy
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In 2023, Azerbaijan produced 4 million 369.8 thousand tons of fuel (automotive gasoline, diesel fuel, and aviation kerosene), whereas last year the total volume amounted to only 3 million 906.9 thousand tons. Over the past year, fuel production in the country decreased by 462.9 thousand tons, or by 10.6%.
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According to preliminary data, in the past year, Azerbaijan's gross domestic product (GDP) amounted to 126.3 billion manats (approximately $74.3 billion at the current exchange rate), a 4.1% increase compared to 2023, the monthly report by the State Statistical Committee of the Republic of Azerbaijan.
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In 2024, the total volume of oil and condensate production in Azerbaijan amounted to 29 million 63 thousand tons, the monthly report by the State Statistical Committee of the Republic of Azerbaijan.
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The Trans Adriatic Pipeline (TAP AG) consortium has developed a roadmap for preparing to transport hydrogen, according to TAP AG. “TAP’s goal is to develop infrastructure for hydrogen transportation. We have defined a roadmap for preparing for the medium- and long-term transportation of natural gas and hydrogen blends, as well as renewable gases. A preliminary study in 2021 confirmed the potential of TAP for transporting hydrogen mixtures in the future. Currently, we are conducting pipeline material tests at an international laboratory. The results of the first tests were received in the fourth quarter of 2024 and are now under evaluation. The next round of tests has already begun, and results are expected in 2025,” said the consortium.
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